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July 3, 2001
By: TOM BRANNA
Revlon Inc. is selling the Colorama brand of cosmetics and hair products, sold primarily in Brazil, as well as Revlon’s manufacturing facility in Sao Paulo to the L’Oreal Group for $55 million. Revlon said Monday the deal, subject to a number of conditions, is expected to close later this month. Revlon will retain and continue to operate the Bozzano and Juvena businesses as well as the core Revlon brand businesses in Brazil.“This sale of a non-core asset is another concrete step in the Revlon turnaround,” said Jeffrey M. Nugent, president and chief executive of Revlon.
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