Brazil: Revlon Sells Colorama Brand

Search Blogs that Mention this News Release
Click this link to view linked Bookmarking Services
Click this link to view linked Blogging Services
Brazil: Revlon Sells Colorama Brand
    NEW YORK, July 2 /PRNewswire/ -- Revlon Inc. (NYSE: REV) today signed a
definitive agreement for the sale, to the L'Oreal Group, of the Colorama brand
of cosmetics and hair care products as well as Revlon's manufacturing facility
located in Sao Paulo, Brazil for the purchase price of $55.0 million USD.  The
Colorama brand includes nail enamel, lip color, shampoo and conditioners sold
primarily in Brazil.
    "This sale of a non core asset is another concrete step in the Revlon
turnaround," said Jeffrey M. Nugent, President/CEO, Revlon, Inc.  "We are
aggressively executing our plan, including the launch of new products, new
advertising, reducing SG&A costs, improving manufacturing efficiencies, more
efficient trade terms and aligning employee and shareholder interests."
    The transaction is subject to a number of conditions and, is expected to
close in mid to late July.
    Revlon will retain and continue to operate the Bozzano and Juvena
businesses as well as the core Revlon brand businesses in Brazil.
    Revlon is a worldwide cosmetics, skin care, fragrance and personal care
products company.  The Company's vision is to become the world's most dynamic
leader in global beauty and skin care.  A web site featuring current product
and promotional information can be reached at http://www.Revlon.com.  The
Company's brands include Revlon(R), Almay(R), Ultima(R), Charlie(R) and
Flex(R) and they are sold worldwide.

    FORWARD LOOKING STATEMENTS
    Information in this press release which is not historical is forward
looking and subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.  Such statements include Revlon's expectations
and estimates about future events, including Revlon's expectation that the
conditions to the transaction will be satisfied and that it will consummate
the sale of its Colorama brand and Sao Paulo facility in mid-to-late July
2001.  Actual results may differ materially from such forward-looking
statements for a number of reasons, including difficulties, delays or an
inability to satisfy the conditions to the transaction or to consummate the
sale of Revlon's Colorama brand and Sao Paulo facility.
SOURCE Revlon Inc.
http://www.revlon.com
CONTACT:
Catherine Fisher of Revlon Inc., 212-527-5727