In August, Revlon announced that its subsidiary, Revlon Consumer Products Corp., will acquire CND parent company The Colomer Group for $660 million. In 2000, Revlon sold CND and its entire Worldwide Professional Products business to The Colomer Group, a company formed by CVC Capital Partners. According to The Wall Street Journal that purchase price was $315 million, meaning Revlon is now paying twice the amount to bring Colomer back in the fold.
“The big difference in price between 2000 and 2013 can be partly attributable to manicure product CND Shellac, a product Colomer launched in 2010 and that has seen sales jump,” wrote The Wall Street Journal.
“I am delighted that we are joining the Revlon family. My leadership team and the entire Colomer organization are very proud of our accomplishments in building our business, and we look forward to working with Revlon and continuing the positive momentum of our company,” says Lorenzo Delpani, CEO of Colomer. Colomer strategically complements Revlon, as it markets and sells professional products to salons and other professional channels under brands such as CND, as well as Revlon Professional hair care (which it currently licenses from the company under a long-term agreement) and American Crew men’s hair care.
Revlon president and CEO Alan T. Ennis says, “This acquisition ... represents a significant and logical strategic step forward for Revlon as it complements our core business, expands our distribution into new channels, and provides meaningful cost synergy opportunities.”