This article was originally published in The Rose Sheet
Executive SummaryColorama cosmetics and hair care products sold to L'Oreal for $55 mil. in effort to focus on core brands, Revlon says. Sale includes nail enamel, lip color, shampoo and conditioners sold primarily in Brazil, as well as manufacturing facility in Sao Paulo, firm says. Transaction is expected to close in July. Revlon will continue to market Bozzano and Juveno businesses in Brazil. All three brands were targeted for divestiture, along with Argentinian hair care brand Plusbelle and Revlon's professional portfolio, in 1999 (1"The Rose Sheet" Oct. 4, 1999, p. 4). Plusbelle was sold to Dial for $46.5 mil. and professional business was divested to Colomer Group for $315 mil. in 2000
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With the acquisition of Niely Cosmeticos, L’Oreal rounds out its hair-product portfolio in Brazil with lower-priced brands Cor & Ton and Niely Gold, reinforcing its No. 1 and No. 2 positions in hair color and hair care in the country’s mass market. In a Sept. 15 report, UBS analyst Eva Quiroga discusses the firm’s optimistic prospects in Brazil, currently its sixth-biggest market and third-largest growth contributor.