Revlon agrees to buy Colomer Group for $660m
Revlon Inc. (REV) has agreed to buy back salon-focused beauty-care company Colomer Group from CVC Capital Partners for $660 million in cash, a deal that gives Revlon entry into the professional salon market.
Colomer started off as Revlon's salon-products business with ranges of shampoos and hair products sold in salons and retail channels. It was bought by CVC in 2000 for $315 million.[...]
In May, the Wall Street Journal reported CVC had hired French boutique advisory firm Michel Dyens & Co. to begin marketing the Spain-based salon products company. CVC has owned Colomer for 13 years--an unusually long holding period for a private-equity firm. [...]