Unilever Seeks to Acquire Faberge

From Reuters

Faberge Inc. said Tuesday it is in preliminary talks to sell its toiletries, cosmetics and fragrances businesses to consumer products giant Unilever NV, a deal that analysts said would be worth more than $1 billion.

New York-based Faberge, owned by the E-II Holdings Inc., makes various cosmetic products, including Aquanet hair spray, Babe perfume and Brut cologne. The company, with $1.1 billion in 1987 sales, also owns Elizabeth Arden cosmetics, which is included in the deal.

Although Faberge Chairman Dan Manella declined to say how much Unilever is offering in the deal, industry analysts said the transaction would cost Unilever over $1 billion.

Faberge declined to give out more information on the talks.

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