TESTING ------ The Estée Lauder Companies (ELC) completed its acquisition of the Tom Ford brand and is now its sole owner of all its intellectual property. With its emergence from bankruptcy, Revlon announced it has formed a new board of directors for the reorganized company. Meanwhile, Oddity invested US$100 million to bring the pharmaceutical sector’s AI-based drug molecule discovery technology into beauty and wellness.

TESTING - completed its acquisition of the Tom Ford brand. The deal values the total enterprise at US$2.8 billion. At closing, ELC paid approximately US$2.25 billion. This amount was funded by cash on hand and proceeds from the issuance of commercial paper, as well as US$250 million received from ELC’s licensing partner Marcolin. An additional aggregate amount of US$300 million in deferred payments from ELC to the sellers will be due in the beginning of July 2025. The remainder of the total enterprise valuation is reflected in the acquisition of Tom Ford Fashion by Zegna Group, which is a licensing partner of ELC.

The Estée Lauder Companies (ELC) completed its acquisition of the Tom Ford brand and is now its sole owner of all its intellectual property. With its emergence from bankruptcy, Revlon announced it has formed a new board of directors for the reorganized company. Meanwhile, Oddity invested US$100 million to bring the pharmaceutical sector’s AI-based drug molecule discovery technology into beauty and wellness.

Business highlights
ELC completed its acquisition of the Tom Ford brand. The deal values the total enterprise at US$2.8 billion. At closing, ELC paid approximately US$2.25 billion. This amount was funded by cash on hand and proceeds from the issuance of commercial paper, as well as US$250 million received from ELC’s licensing partner Marcolin. An additional aggregate amount of US$300 million in deferred payments from ELC to the sellers will be due in the beginning of July 2025. The remainder of the total enterprise valuation is reflected in the acquisition of Tom Ford Fashion by Zegna Group, which is a licensing partner of ELC.

Oddity’s Dr. David Zhang, Shiran Holtzman Erel, Oran Holtzman and Dr. Evan Zhao (Image credit: Oddity).In connection with its emergence from bankruptcy, Revlon announced it has formed a new Board of Directors for the reorganized company, which includes senior executives with experience in global consumer, retail and beauty industries. Effective upon emergence from Chapter 11, which is expected to occur in the coming days, the new members of reorganized Revlon’s Board will include former executives of Bloomin’ Brands, Avon Products, Sephora, Starbucks, Nike, Walgreens Boots Alliance, Kraft Foods Group, Gap, eBay and Walt Disney Parks. Revlon’s president and CEO, Debra Perelman, will continue in her role and remain on the Board of reorganized Revlon, which will be a private non-SEC reporting company.

Revlon also completed its financial restructuring process. The newly reorganized company is called Revlon Group Holdings LLC. With liquidity of approximately US$236 million, funded by a rights offering, a new senior secured credit facility and new asset-based loans, Revlon emerged from Chapter 11 as a private company. The company has simplified its capital structure by removing more than US$2.7 billion of debt from its balance sheet, leaving approximately US$1.5 billion in debt outstanding. The majority of the company’s reorganized equity is now held by its former lenders, including subsidiaries of Glendon Capital Management, King Street Capital Management, Angelo, Gordon & Co, Antara Capital, Nut Tree Capital Management, Oak Hill Advisors and Cyrus Capital Partners.

Oddity, a US consumer technology platform built to “transform” the global beauty and wellness market, announced its US$76M acquisition of Boston-based Revela, a biotechnology start-up and forerunner in an artificial intelligence (AI) molecule discovery for beauty and wellness indications. With the acquisition, the company will establish Oddity Labs in Boston with an additional US$25 million investment for its frontier lab. The business combination will boost the development and expansion of proprietary, science-backed and clinically tested products. Revela already has patent-pending molecule ingredients proven to have “significant stepwise improvements in efficacy for skin and hair based on clinical testing.” It holds hundreds of molecules in its development pipeline today, spanning a wide range of beauty and wellness applications.

Brenntag expanded an existing distribution agreement with Kao Chemicals Europe to now cover all countries in the Nordics. Brenntag and Kao have a long-standing partnership in Sweden and Norway, and will now serve personal care and household, industrial and institutional cleaning customers in the entire region with a portfolio of surfactant solutions. Kao Chemicals Europe’s portfolio of products includes a wide range of cosmetic ingredients for hair and skin care. The product offering consists of mild surfactants, conditioning agents, rheology modifiers, foam boosters, pearling agents, emulsifiers, emollients and other ingredients that help formulators to develop new solutions and design new