Elizabeth Arden, Inc. Announces Agreement To Acquire The Christina Aguilera Fragrance Brands
NEW YORK, May 12, 2016 /PRNewswire/ -- Elizabeth Arden, Inc. (NASDAQ: RDEN), a global prestige beauty products company, announced today that it has signed an agreement to acquire the global license and certain related assets for the Christina Aguilera fragrance business from Procter & Gamble International.
Internationally acclaimed superstar recording artist Christina Aguilera introduced her first fragrance in 2007. Today her fragrances command a global reach and have seven brands. In addition to being the No. 1 celebrity fragrance brand in Europe, it stands as the most awarded celebrity fragrance brand in this region.
"We are tremendously excited with our agreement to acquire the Christina Aguilera fragrance license," said George Cleary, President Global Fragrances at Elizabeth Arden. "This stellar brand is one with a global footprint and a significant international presence in Europe. This acquisition is consistent with our strategy to acquire brands to grow our fragrance business on a global basis, and we look forward to working with Christina to advance the success of this luxury, longstanding fragrance brand."
Christina Aguilera said, "I really enjoy developing my fragrances and I am excited to continue the process with Elizabeth Arden. Their commitment to creating fragrances is important to me and I know they will do a great job helping me deliver top quality product to my fans."
Terms of the transaction were not disclosed. The transaction is expected to close in the first quarter of fiscal 2017 and is subject to customary regulatory approvals.
Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skincare line, Elizabeth Arden PRO; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; the heritage fragrance brands of Britney Spears, White Diamonds Elizabeth Taylor, Curve, Giorgio Beverly Hills, Ed Hardy, Jennifer Aniston, Lucky Brand, Paul Sebastian, Halston, Geoffrey Beene, Rocawear, Alfred Sung, White Shoulders and BCBGMAXAZRIA; and the celebrity fragrance brands of Taylor Swift, Nicki Minaj, Mariah Carey and Justin Bieber.
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