Revlon in $660M Hair Dye Deal

The acquisition will be completed before the end of the year

   

Revlon in $660M Hair Dye Deal

business handshake 630 300x199 Revlon in $660M Hair Dye DealShares of Revlon (REV) surged more than 5% in Monday morning trading after the company announced the re-acquisition of its former hair care product division.

In 2000, Revlon sold the Colomer Group, which makes beauty salon products, to CVC Capital partners. It will now buy the group back from CVC in a deal worth $660 million. The deal is expected to close during the fourth quarter, the Associated Press notes.

handholdingmoney185 Revlon in $660M Hair Dye Deal
Pennsylvania Beauty Forced to Pay Donald Trump $5M

The move comes less than a week after Revlon posted second-quarter profits that were more twice those generated during the same time last year.

Revlon executives say the purchase will allow the company to enter the professional salon channel, where it currently has no presence.


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/revlon-in-660m-hair-dye-deal/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.