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Revlon looks to Goldman Sachs as it considers 'strategic transactions': Report

Ann Schmidt

Revlon Inc. could be in for a company makeover.

The cosmetics company is looking into “strategic transactions involving the Company and third parties” with the help of an “external financial advisor,” according to an SEC filing from Thursday.

Those external advisors are from Goldman Sachs, according to Bloomberg.

Revlon is reportedly examining all its options, including selling all or parts of the company, an unidentified source familiar with the matter told the outlet.

According to the SEC filing, the company has not made any formal plans or deals yet.

The cosmetics company, backed by billionaire Ron Perelman, has struggled to compete with other makeup and cosmetics companies including L’Oreal SA and Kylie Jenner’s brand, Kylie Cosmetics, according to The Wall Street Journal.

The Journal also reported that Perelman’s investing company, MacAndrews & Forbes Inc. has twice loaned millions to Revlon in recent years.

According to Bloomberg, Revlon has more than $3 billion of debt -- much of which is due in 2020.

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Revlon reported its quarterly earnings last week, with $570.2 million in sales, The Journal reported. Last year during the second quarter, the company had $606.8 million in sales.

On Thursday, the company’s shares closed at $15.36, which is up about 5.5 percent, according to the outlet.

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