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August 3, 2000
By: TOM BRANNA
Editor
L’Oreal USA has completed its cash tender offer for all outstanding common stock of Carson, Inc. at $5.20 a share. This offer was completed after L’Oreal reached an agreement with the Department of Justice. The agreement calls for L’Oreal USA to divest Carson’s Gentle Treatment and Ultra Sheen Supreme relaxer brands and the Johnson Products name.“L’Oreal USA’s main interest here in the U.S. was to acquire Carson’s Dark & Lovely franchise, the men’s shaving line Magic Shave and the Dermablend business,” said Guy Peyrelongue, president and chief executive officer, LlOreal USA. “Additionally, on an international basis, the Carson business in South Africa provides a platform for the L’Oreal Group to expand its ethnic business throughout Africa.”
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