LG Household & Healthcare, the nation’s largest consumer goods maker, confirmed on Wednesday that it is considering a bid for cosmetics company Elizabeth Arden to expand its beauty business overseas.
“The company is reviewing a couple of beauty brands on sales, including U.S.-based Elizabeth Arden, but it has not decided yet whether it will join a bid or not,’’ a company spokesperson said.
Industry watchers said the price tag of Elizabeth Arden would surpass 1 trillion won ($960 million) as the firm’s sales last year reached $1.34 billion.
Should LG Household & Healthcare opt to buy the global cosmetics brand, it would likely be the largest merger it has ever undertaken.
Industry watchers said LG Household currently holds about 1.5 trillion won in cash, allowing it to seek such a deal.
In the past, the company sealed smaller deals at home and abroad, including The Face Shop and Fruits & Passion.
(
jyseo@heraldcorp.com)
