Factiva Press Release Service

Unilever United States Inc and Faberge Inc jointly announced the signing of a contract for the purchase of the toiletries, cosmetics and fragrances businesses of Faberge and Elizabeth Arden by Unilever United States Inc and affiliates. Faberge will receive a total consideration of $1.55bn. The transaction accords with the earlier agreement in principle. Negotiations to complete the agreement were terminated on 28 Apr 1989 because of technical and structural differences. These have now been resolved. Faberge and Elizabeth Arden are owned by the Riklis Family Corp. and have their headquarters in New York. Faberge is a leading manufacturer of personal care products and toiletries, marketed under the Faberge, Aqua Net and Brut brand names. Elizabeth Arden is a worldwide manufacturer of premium skin care, fragrance and colour cosmetics products marketed under the Elizabeth Arden, Lagerfeld, Fendi, Chloe and other brand names.

For the year ending Jan 1989, combined sales of the Faberge and Elizabeth Arden businesses were in excess of $800m with combined operating profits of $93m.

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