Revlon Consumer Products Corporation completed its previously-disclosed acquisition of The Colomer Group (TCG), including the Revlon Professional business, for a cash purchase price of $665 million after giving effect to purchase price adjustments set forth in the share purchase agreement. The company financed this acquisition with proceeds from the previously-disclosed $700 million upsizing of its bank term loan facility.
TCG is a beauty care company with approximately $500 million in annual net sales that markets and sells professional products primarily to salons and other professional channels not currently served by Revlon. Key professional brands acquired as part of the transaction include Revlon Professional, Intercosmo, Orofluido, and UniqOne hair care brands; CND nail polishes and enhancements, including the successful Shellac innovation; and American Crew men’s grooming range. TCG also sells certain brands directly into retail channels, including Natural Honey body lotions and Llongueras hair care, and operates a multi-cultural hair-care business under the Crème of Nature brand.
This acquisition expands Revlon’s geographic scope with approximately 50% of the acquired business’s net sales in Europe, Middle East and Africa, and approximately 40% in the U.S.