Mergers & Acquisitions Avon Products, Inc. and Cerberus Capital Management, a New Yorkbased private investment firm, announced that they have signed definitive agreements to revitalize Avon’s North American business. The partnership includes a $605 million equity investment by affiliates of Cerberus. Cerberus will make a $435 million investment in Avon Products and Avon North America will be separated from Avon Products into a privately-held company majorityowned and managed by Cerberus. The transaction is anticipated to be completed in the Spring of 2016. Scottish aerosol and contract fill manufacturers Barony Universal and Sanmex International have agreed to merge to create “the largest independent aerosol manufacturer in the UK”. Manufacturing will continue at both sites with no effect on jobs. The Village Company, a privately held manufacturer, announced the 46 Spray February 2016 acquisition of the global assets and rights associated with the Soft & Dri, La Bella, Dep, Pure & Natural, Mink Difference, Adorn and The Dry Look brands from High Ridge Brands. Terms and conditions of the transaction were not disclosed. Unilever sold the Motions, Just for Me, Consort and Groom & Clean brands, as well as the TCB brand in Africa, to Strength of Nature for an undisclosed amount. L’Oréal USA acquired key assets from Raylon Corporation, a fullservice wholesale distributor of salon professional products. The acquisition will expand SalonCentric’s distribution coverage of salon professional products in the Northeast U.S., representing approximately 3,500 salons. Shiseido purchased the trademark of Serge Lutens, a company providing luxury fragrances and cosmetics. The purchase enables Shiseido to invest more in the brand, which, as of 2015 has expanded to approximately 2,000 outlets in 35 countries. Packaging supplier Berlin Packaging announced the acquisition of Californiabased Diablo Valley Packaging, marking Berlin’s second acquisition in three months and the sixth since 2010. Univar, a global chemical distributor, announced it has expanded its longstanding European distribution agreement for The Dow Chemical Company’s Amerchol personal care ingredients to include France. Symrise Scent & Care acquired Pinova Holdings, Inc., one of the leading suppliers of ingredients made from natural feedstock. The acquisition widens Symrise’s access to high-quality ingredients for perfumes.
Spray February 2016
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