Revlon Inc. plans to formally reach out to potential bidders in September, after the U.S. Labor Day holiday weekend, in a bid to turn the company around without going private, Bloomberg News reported Aug. 27, citing people with knowledge of the matter.
The New York-based cosmetics maker is looking to sell the whole business or some of its major brands, but is not interested in divesting the smaller brands piecemeal, the report said.
Its majority owner, MacAndrews & Forbes Holdings Inc., is not considering taking the company private, the newswire added.
No decisions have been finalized and a deal may not materialize, according to the report.
Earlier this month, the producer of Elizabeth Arden-branded products reportedly hired the services of Goldman Sachs Group Inc. to explore alternatives for the company, including a possible sale.
Revlon, MacAndrews & Forbes and Goldman Sachs did not immediately respond to S&P Global Market Intelligence's requests for comment.
