U.S. beauty group for sale

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U.S. beauty group for sale

Elizabeth Arden after attracting takeover interest from Korea’s LG Household & Health Care has hired Goldman Sachs Group to contact private-equity firms and other potential buyers, a person familiar with the matter said.

While Elizabeth Arden is running a sales process, no deal is done and the company may decide not to sell itself, said the person, who asked not to be identified because the matter is private.

LG Household, which makes WHOO Hwanyugo skin care products, perfumes and toothpaste, is looking at “big deals” locally and overseas, including one for Elizabeth Arden, Lee In-ick, a spokesman for the LG Group unit, said Thursday.

Elizabeth Arden, based in Miramar, Florida, makes fragrances including Elizabeth Taylor and Britney Spears brand perfumes.

Reuters reported the Goldman Sachs hiring earlier.

Bloomberg

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