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Article: Revlon sells its non-core Brazilian brands: Latin American beauty sales continue growth trajectory, as do popularity of U.S. and European brands with local consumers.(LATIN beat)
- Article from:
- Global Cosmetic Industry
- Article date:
- October 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Allured Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In July, Revlon sold its Brazilian subsidiary, Ceil Comercio E Distribuidora Ltda., to Hypermarcas--a Brazilian diversified consumer products corporation. The $104 million cash sale included non-core Revlon Brazilian brands--notably Bozzano, a men's hair care and shaving brand. Revlon brand color cosmetics will continue to be marketed in Brazil through the company's current third-party distributor, according to a press release. Revlon expects net proceeds, after payment of taxes and transaction costs, to be approximately $94 million, and it is currently evaluating the most appropriate use of the profits from the transaction.
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