Sard Verbinnen & Co. and ICR are advising Revlon's $870M acquisition of Elizabeth Arden.
The $14-per-share deal, a 50% premium on EA's share price this week, combines the publicly traded, New York-based cosmetics giant with its publicly traded skincare, cosmetics and fragrance competitor eying cost "synergies" of about $140M.
Revlon CEO Fabian Garcia said his company will work to enhance EA through product development and marketing "while carefully preserving its unique heritage and prestige."
Revlon, controlled by financier Ron Perelman, is paying $419.3M while assuming about $450M in EA debt.
Sard Verbinnen chairman and CEO George Sard and managing director Stephanie Pillersdorf are representing Revlon on the PR front in the deal.
ICR managing director Phil Denning is advising Elizabeth Arden.
Why selling your public relations firm to a strategic buyer delivers not only a high monetary payoff but is also the clearest path to securing your legacy.
Kekst CNC represents the DallasNews Corp. as it gets acquired by Hearst Corp. for about $75M. The 140-year-old Dallas Morning News will join Hearst's 28 dailies.
M&A transactions in the PR and marketing communications sectors were up 10 percent in 2024, according to Davis+Gilbert’s newly released M&A Activity Tracker.
Avoq has acquired SRA Communications, a Harrisburg-based PA shop focused on public health, banking, energy and public utilities.
