L'Oreal-Maybelline Tie OK'd
as received U.S. regulatory approval to acquire Maybelline Inc., a move that could put the company just behind Procter & Gamble, Cincinnati, in the mass cosmetics market.
This month, the Justice Department gave L'Oreal antitrust clearance to acquire Memphis, Tenn.-based Maybelline. The deal reportedly would make L'Oreal the second largest mass market cosmetics firm. Currently, Procter & Gamble, Cincinnati, is No. 1, and Revlon, New York, is No. 2, followed by Maybelline and L'Oreal.
The combined L'Oreal-Maybelline force would have about a 28% share of the mass cosmetics market, just under P&G's 28.5%. Revlon, which is ready to go public, has about 25.6%.
Combined sales of L'Oreal and Maybelline reportedly total an estimated $648 million. The P&G cosmetics operations, Cover Girl and Max Factor cosmetic lines, had sales for the year ended August 1995 of $678 million, according to published reports.
Colgate's Quarter Net Down
NEW YORK -- Colgate-Palmolive here reported net income for the fourth quarter ended Dec. 31, 1995, was $122.5 million, an 11% drop from the same period a year before. Following an after-tax restructuring charge of $369.2 million, net profit for the year was down to $172 million from $580.2 million.
The company also attributed the decrease, in part, to the recession in Mexico, where it has strong operations.
Fourth-quarter 1995 sales, meanwhile, increased to a record $2.2 billion, with unit volume and sales both up 8%, which the company attributed to growth in worldwide advertising. Sales were up 11% overall in 1995 to a record $8.4 billion, which the company attributed to a 9% worldwide unit volume growth.
Unilever to Buy Helene Curtis
NEW YORK -- Helene Curtis here has agreed to be acquired by Unilever, London, for $770 million.
If approved by stockholders, the deal would give Unilever a stronger role in the North American hair care market, observers said. Helene Curtis' main products include Finesse, Salon Selectives, Suave and Degree deodorant. Unilever's leading sellers include Pond's creams and Vaseline Intensive Care.
Neuman, Drug Guild Plan Deal
RIDGEFIELD, N.J. -- Neuman Health Services here and Drug Guild Distributors, Secaucus, N.J., have executed a letter of intent to merge, a move the companies said could create one of the largest wholesale pharmaceutical distributors in the United States.
The merger, which would create a company with combined sales of $1.6 billion and combined assets of more than $350 million, is expected to close within the next two months.