NEW YORK, April 24 Elizabeth Arden Inc
has hired Goldman Sachs Group to explore a sale and
reached out to a small group of potential buyers, according to
people familiar with the matter.
The U.S. cosmetics company, which has a market
capitalization of about $960 million, has decided to gauge buyer
interest after its share price has come under pressure in the
last 12 months amid weak sales in its key North American market,
the people said.
The people asked not to be named because the matter is not
public. Representatives for Elizabeth Arden did not respond to
requests for comment, while Goldman Sachs declined to comment.
News of the sale process came after South Korea's LG
Household & Healthcare Ltd said on Wednesday that it
is looking at several potential acquisitions, including one for
In addition to its namesake brand, Elizabeth Arden is known
for celebrity brand perfumes such as those of Taylor Swift and
Justin Bieber, as well as skin care brands like Ceramide and
(Reporting by Soyoung Kim and Olivia Oran in New York,
additional reporting by Phil Wabha in New York)