The Beauty Part

P&G; agrees to buy Max Factor from debt-laden Revlon

Procter & Gamble made its mark with such homely household products as Crisco, Tide and Ivory soap, but now the Cincinnati-based giant is paying up for glamour. In a move to strengthen its worldwide beauty business, P&G; (1990 sales: $24 billion) last week agreed to buy the Max Factor cosmetics firm and Betrix, a German makeup and fragrance manufacturer, from Ronald Perelman's debt-burdened Revlon for $1.14 billion in cash. The deal "speeds up the global expansion of the company by at least five years," said P&G; chief Edwin Artzt, who has focused on foreign growth since he took over the top...

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