Revlon To Acquire Colomer Group For $660 Mln In Cash - Quick Facts

(RTTNews) - Revlon Inc. (REV) announced Monday that its wholly owned operating subsidiary, Revlon Consumer Products Corporation, has signed a definitive agreement to acquire all of the stock of The Colomer Group, a privately-held beauty care company focused on the professional salon channel, for $660 million in cash, which is subject to certain adjustments through the closing date.

The acquisition is expected to close in the fourth quarter of 2013, subject to certain customary conditions and regulatory approvals.

The Transaction is expected to be accretive to cash flow and earnings in the first year.

The company said it expects to finance the acquisition using funds underwritten by Citigroup Global Markets Inc. pursuant to commitments entered into contemporaneously with the purchase agreement.