Manufacturing Industry
Procter & Gamble's acquisitions: view from US.
Cosmetics International, May, 1991
Revlon Inc.'s agreement in principle to sell Max Factor and Co. and Betrix GmbH to Procter & Gamble for $1.14 billion in cash, gives Procter & Gamble the means to become an international force in cosmetics sales and has everyone wondering what Revlon will sell next.
Betrix, a German company with sales totalling $195 million, and Max Factor, based in Los Angeles with $600 million in sales, some 75 per cent of which are outside the US, give P&G access to markets and retailers it does not currently have with lines such as its Cover Girl. Cover Girl and its sister division Clarion, between them have over $420 million in sales, but less than 15 per cent of Cover Girl's sales are outside the US.
With the Factor acquisition, P&G will also become a greater...
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