EX-99.1
2
a50725137ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
Revlon
Completes Acquisition of The Colomer Group
NEW YORK--(BUSINESS WIRE)--October 9, 2013--Revlon, Inc. (NYSE:REV)
today announced that its wholly owned operating subsidiary, Revlon
Consumer Products Corporation ("RCPC" or the "Company"), completed its
previously-disclosed acquisition of The Colomer Group ("TCG"), including
the Revlon Professional business, for a cash purchase price of $665
million after giving effect to purchase price adjustments set forth in
the share purchase agreement. The Company financed this acquisition with
proceeds from the previously-disclosed $700 million upsizing of its bank
term loan facility.
TCG is a beauty care company with approximately $500 million in annual
net sales that markets and sells professional products primarily to
salons and other professional channels not currently served by Revlon.
Key professional brands acquired as part of the transaction include
Revlon Professional, Intercosmo, Orofluido, and UniqOne hair care
brands; CND nail polishes and enhancements, including the successful
Shellac innovation; and American Crew men's grooming range. TCG also
sells certain brands directly into retail channels, including Natural
Honey body lotions and Llongueras
hair care, and operates a
multi-cultural hair-care business under the Crème of Nature brand. This
acquisition expands Revlon's geographic scope with approximately 50% of
the acquired business's net sales in Europe, Middle East and Africa, and
approximately 40% in the U.S.
David Kennedy, Interim Chief Executive Officer, commented, "We are
excited about the acquisition of TCG, which provides Revlon with broad
brand, geographic and channel diversification. The acquisition
substantially expands our business, providing distribution into new
channels and meaningful cost synergy opportunities. In addition, it
offers opportunities for profitable growth by leveraging our enhanced
innovation capability and know how. We expect the acquisition to be
accretive to cash flow and earnings in the first year".
About Revlon
Revlon is a global color cosmetics, hair color, beauty tools,
fragrances, skincare, anti-perspirant deodorants and beauty care
products company whose vision is
Glamour, Excitement and Innovation
through high-quality products at affordable prices
. Revlon® is one
of the strongest consumer brand franchises in the world. Revlon's global
brand portfolio includes Revlon® color cosmetics, Almay® color
cosmetics, SinfulColors® color cosmetics, Pure Ice® color cosmetics,
Revlon ColorSilk® hair color, Revlon® beauty tools, Charlie® fragrances,
Mitchum® anti-perspirant deodorants, and Ultima II® and Gatineau®
skincare. Websites featuring current product and promotional information
can be reached at
www.revlon.com
,
www.almay.com
and
www.mitchum.com
.
Corporate and investor relations information can be accessed at
www.revloninc.com
.
Forward-Looking Statements
Statements made in this press release, which are not historical facts,
including statements about the Company's plans, strategies, focus,
beliefs and expectations, are forward-looking. Forward-looking
statements speak only as of the date they are made and, except for the
Company's ongoing obligations under the U.S. federal securities laws,
the Company undertakes no obligation to publicly update any
forward-looking statement, whether to reflect actual results of
operations; changes in financial condition; changes in general U.S. or
international economic, industry or cosmetics category conditions;
changes in estimates, expectations or assumptions; or other
circumstances, conditions, developments or events arising after the
issuance of this press release. Such forward-looking statements include,
without limitation, the Company's following estimates, beliefs,
expectations, focus and/or plans: (i) the Company's belief that the
acquisition provides meaningful cost synergy opportunities; (ii) the
Company's belief that, in addition, the acquisition offers opportunities
for profitable growth by leveraging our enhanced innovation capability
and know how; and (iii) the Company's expectation that the acquisition
will be accretive to cash flow and earnings in the first year. Actual
results may differ materially from such forward-looking statements for a
number of reasons, including those set forth in our filings with the
SEC, including, without limitation, our 2012 Annual Report on Form 10-K
that we filed with the SEC in February 2013 and our Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K that we have filed or will
file with the SEC during 2013 (which may be viewed on the SEC's website
at
http://www.sec.gov
or on our website at
http://www.revloninc.com
),
as well as reasons including: (i) less than anticipated cost synergy
opportunities, more than expected costs to achieve the planned synergies
or delays in achieving the expected synergies; (ii) less than expected
growth, such as due to difficulties, delays, unanticipated costs or the
Company's inability to launch innovative products, such as due to less
than effective new product development; less than expected acceptance of
the Company's new products by consumers and/or retail customers; less
than expected acceptance of the Company's brand communication for such
products by consumers and/or retail partners; less than expected levels
of advertising and/or promotional activities for the Company's new
product launches; less than expected levels of execution with the
Company's retailers or salons; less than anticipated sales of the
Company's new products as a result of consumer response to worldwide
economic or other conditions; greater than expected volatility in the
sales environment; more than anticipated returns for such products;
actions by the Company's customers impacting its sales, including in
response to any decreased consumer spending in response to weak economic
conditions or weakness in the cosmetics category in the mass retail
and/or professional salon channels; adverse changes in currency exchange
rates and/or foreign currency exchange controls; decreased sales of the
Company's products as a result of increased competitive activities by
the Company's competitors; changes in consumer purchasing habits,
including with respect to shopping channels; retailer and/or salon
inventory management; greater than expected impact from changes in
retailer and/or salon pricing or promotional strategies; greater than
anticipated retailer and/or salon space reconfigurations or reductions
in retailer and/or salon display space; less than anticipated results
from the Company's existing or new products or from its advertising,
promotional and/or marketing plans; or if the Company's expenses,
including, without limitation, for advertising, promotions and/or
marketing activities or for sales returns related to any reduction of
retail and/or salon space, product discontinuances or otherwise, exceed
the anticipated level of expenses; and/or (iii) less than expected
benefits to cash flow and/or earnings from completing the acquisition
and/or delays in realizing such benefits, such as due to (a)
difficulties or delays in and/or the Company's inability to expand its
distribution into new channels and/or realize the expected cost synergy
opportunities and/or (b) difficulties or delays in and/or the Company's
inability to integrate TCG's business. Factors other than those listed
above could also cause the Company's results to differ materially from
expected results. Additionally, the business and financial materials and
any other statement or disclosure on or made available through the
Company's websites or other websites referenced herein shall not be
incorporated by reference into this release.
CONTACT:
For Revlon, Inc.
Investor Relations & Media:
Elise
Garofalo, 212-527-5264
Senior Vice President, Treasurer and
Investor Relations

EX - 99 . 1 2 a50725137ex99 - 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Revlon Completes Acquisition of The Colomer Group NEW YORK -- ( BUSINESS WIRE ) -- October 9 , 2013 -- Revlon , Inc . ( NYSE : REV ) today announced that its wholly owned operating subsidiary , Revlon Consumer Products Corporation ( " RCPC " or the " Company " ) , completed its previously - disclosed acquisition of The Colomer Group ( " TCG " ) , including the Revlon Professional business , for a cash purchase price of $ 665 million after giving effect to purchase price adjustments set forth in the share purchase agreement . The Company financed this acquisition with proceeds from the previously - disclosed $ 700 million upsizing of its bank term loan facility . TCG is a beauty care company with approximately $ 500 million in annual net sales that markets and sells professional products primarily to salons and other professional channels not currently served by Revlon . Key professional brands acquired as part of the transaction include Revlon Professional , Intercosmo , Orofluido , and UniqOne hair care brands ; CND nail polishes and enhancements , including the successful Shellac innovation ; and American Crew men ' s grooming range . TCG also sells certain brands directly into retail channels , including Natural Honey body lotions and Llongueras hair care , and operates a multi - cultural hair - care business under the Crème of Nature brand . This acquisition expands Revlon 's geographic scope with approximately 50 % of the acquired business 's net sales in Europe , Middle East and Africa , and approximately 40 % in the U . S . David Kennedy , Interim Chief Executive Officer , commented , " We are excited about the acquisition of TCG , which provides Revlon with broad brand , geographic and channel diversification . The acquisition substantially expands our business , providing distribution into new channels and meaningful cost synergy opportunities . In addition , it offers opportunities for profitable growth by leveraging our enhanced innovation capability and know how . We expect the acquisition to be accretive to cash flow and earnings in the first year " . About Revlon Revlon is a global color cosmetics , hair color , beauty tools , fragrances , skincare , anti - perspirant deodorants and beauty care products company whose vision is Glamour , Excitement and Innovation through high - quality products at affordable prices . Revlon ® is one of the strongest consumer brand franchises in the world . Revlon ' s global brand portfolio includes Revlon ® color cosmetics , Almay ® color cosmetics , SinfulColors ® color cosmetics , Pure Ice ® color cosmetics , Revlon ColorSilk ® hair color , Revlon ® beauty tools , Charlie ® fragrances , Mitchum ® anti - perspirant deodorants , and Ultima II ® and Gatineau ® skincare . Websites featuring current product and promotional information can be reached at www.revlon.com , www.almay.com and www.mitchum.com . Corporate and investor relations information can be accessed at www.revloninc.com . Forward - Looking Statements Statements made in this press release , which are not historical facts , including statements about the Company 's plans , strategies , focus , beliefs and expectations , are forward - looking . Forward - looking statements speak only as of the date they are made and , except for the Company 's ongoing obligations under the U . S . federal securities laws , the Company undertakes no obligation to publicly update any forward - looking statement , whether to reflect actual results of operations ; changes in financial condition ; changes in general U . S . or international economic , industry or cosmetics category conditions ; changes in estimates , expectations or assumptions ; or other circumstances , conditions , developments or events arising after the issuance of this press release . Such forward - looking statements include , without limitation , the Company ' s following estimates , beliefs , expectations , focus and / or plans : ( i ) the Company 's belief that the acquisition provides meaningful cost synergy opportunities ; ( ii ) the Company 's belief that , in addition , the acquisition offers opportunities for profitable growth by leveraging our enhanced innovation capability and know how ; and ( iii ) the Company 's expectation that the acquisition will be accretive to cash flow and earnings in the first year . Actual results may differ materially from such forward - looking statements for a number of reasons , including those set forth in our filings with the SEC , including , without limitation , our 2012 Annual Report on Form 10 - K that we filed with the SEC in February 2013 and our Quarterly Reports on Form 10 - Q and Current Reports on Form 8 - K that we have filed or will file with the SEC during 2013 ( which may be viewed on the SEC 's website at http://www.sec.gov or on our website at http://www.revloninc.com ) , as well as reasons including : ( i ) less than anticipated cost synergy opportunities , more than expected costs to achieve the planned synergies or delays in achieving the expected synergies ; ( ii ) less than expected growth , such as due to difficulties , delays , unanticipated costs or the Company 's inability to launch innovative products , such as due to less than effective new product development ; less than expected acceptance of the Company 's new products by consumers and / or retail customers ; less than expected acceptance of the Company 's brand communication for such products by consumers and / or retail partners ; less than expected levels of advertising and / or promotional activities for the Company ' s new product launches ; less than expected levels of execution with the Company 's retailers or salons ; less than anticipated sales of the Company 's new products as a result of consumer response to worldwide economic or other conditions ; greater than expected volatility in the sales environment ; more than anticipated returns for such products ; actions by the Company 's customers impacting its sales , including in response to any decreased consumer spending in response to weak economic conditions or weakness in the cosmetics category in the mass retail and / or professional salon channels ; adverse changes in currency exchange rates and / or foreign currency exchange controls ; decreased sales of the Company 's products as a result of increased competitive activities by the Company 's competitors ; changes in consumer purchasing habits , including with respect to shopping channels ; retailer and / or salon inventory management ; greater than expected impact from changes in retailer and / or salon pricing or promotional strategies ; greater than anticipated retailer and / or salon space reconfigurations or reductions in retailer and / or salon display space ; less than anticipated results from the Company ' s existing or new products or from its advertising , promotional and / or marketing plans ; or if the Company 's expenses , including , without limitation , for advertising , promotions and / or marketing activities or for sales returns related to any reduction of retail and / or salon space , product discontinuances or otherwise , exceed the anticipated level of expenses ; and / or ( iii ) less than expected benefits to cash flow and / or earnings from completing the acquisition and / or delays in realizing such benefits , such as due to ( a ) difficulties or delays in and / or the Company 's inability to expand its distribution into new channels and / or realize the expected cost synergy opportunities and / or ( b ) difficulties or delays in and / or the Company 's inability to integrate TCG 's business . Factors other than those listed above could also cause the Company 's results to differ materially from expected results . Additionally , the business and financial materials and any other statement or disclosure on or made available through the Company 's websites or other websites referenced herein shall not be incorporated by reference into this release . CONTACT : For Revlon , Inc . Investor Relations & Media : Elise Garofalo , 212 - 527 - 5264 Senior Vice President , Treasurer and Investor Relations