Personal care and cosmetics companies Henkel & Co KGaA AG, Revlon Inc and Coty Inc are preparing bids for parts of Procter & Gamble Co's beauty business, according to sources.
Revlon Inc
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California-based early stage investment platform TPG Growth is in advanced talks to acquire New York-based beauty company e.l.f. Cosmetics, according to three sources familiar with the matter.
New York-based cosmetics company Revlon, which has posted profit declines in 2011 and 2012, will close its operations in China, cutting at least 1,100 jobs. News of the shutdown came a few months after Revlon bought Spanish beauty care company Colomer Group.
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