US-based cosmetics firm Revlon has announced that it has signed a definitive agreement to acquire all of the outstanding shares of Elizabeth Arden for $14.00 per share in cash, representing an approximate enterprise value for Elizabeth Arden of $870 million. By bringing together two “highly complementary, iconic brand portfolios”, Revlon said it would benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, …
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Elizabeth Arden
Elizabeth Arden’s financial woes have continued as the multinational cosmetics firm reported a net loss of $155.9 million for the fourth quarter of its financial year, compared to a loss of just $5 million for the same period of the previous year. The results comes on the back of a $26.5 million loss in the third quarter, itself 20 times greater than in the equivalent period of 2012/13. Total annual …
Shares in cosmetics manufacturer Elizabeth Arden are said to have dived by up to 23% – the sharpest fall in five years – after the company reported an unexpected loss. As reported by the BBC, the company’s sales fell by 20% to $ 211 million due to weak demand in North America and heavy discounting overseas. It has reportedly hired investment bank Goldman Sachs to investigate. According to E Scott …
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