Is Revlon for sale? Company explores “strategic alternatives”

Revlon Logo LIOThe majority owner of US cosmetic company Revlon, Ronald Perelman, last week filed a statement with the Securities and Exchange Commission to explore “strategic alternatives” for the future of the company.

The filing said that the company may communicate with third parties, but that it has not formulated and specific plans at this time.

Perelman controls Revlon through his investment firm, MacAndrews & Forbes, which owns about 78% of Revlon’s outstanding shares.

Perelman has controlled Revlon since a hostile takeover in 1985.

The company has a market value of about $1.3 billion, reports the New York Times.

In its most recent financial disclosure, Revlon said that its profit declined to $6.2 million in the third quarter, from $14.6 million in the prior-year period.

Revlon restructured and expanded its travel retail organization over the past year, as well as acquiring UK-based global fragrance management company CBBeauty. It had acquired the Colomer Group beauty company in 2013.