Revlon sells non-core Brazilian brands

Published: 29-Jul-2008

Revlon today announced the sale of several non-core brands sold on the Brazilian market. The $104m all cash transaction was effected by the sale of the company’s Brazilian subsidiary, Ceil Comercio E Distribuidora Ltda, to Hypermarcas SA, a Brazilian diversified consumer products corporation.


Revlon today announced the sale of several non-core brands sold on the Brazilian market. The $104m all cash transaction was effected by the sale of the company’s Brazilian subsidiary, Ceil Comercio E Distribuidora Ltda, to Hypermarcas SA, a Brazilian diversified consumer products corporation.

Non-core brands sold as part of the deal include men’s hair care and shaving line, Bozzano.

Revlon president and ceo David Kennedy said of the transaction, “our business strategy is to build and leverage our strong brands worldwide, particularly the Revlon brand. This transaction presented Revlon with an opportunity to monetise a non-core, non-strategic brand at a very attractive valuation, while enabling us to remain focused on building our core brands around the world.”

Revlon expects to record a one-time gain of $50m from this transaction in its results for the third quarter of 2008. It also expects that Ceil’s net sales, operating income and EBITDA would not be material to Revlon’s ongoing financial results.

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