Saturday, June 8, 2013

Wasserstein Perella paid $300 Million for Maybelline in 1990, replacing Linda Carter with Christy Turlington and adding the tag line, Maybe She's Born with it, Maybe it's Maybelline

In 1991, the company adopted its current advertising slogan,
 "Maybe She's Born With It. Maybe It's Maybelline
Schering did not belong in the eye beauty business and the company found this out after abut ten years.  Maybelline was sold to an independent buyer and could not be bought for years on any stock exchange.  this independent buyer then decided to sell 51% on an IPO basis...independent public offering, and then this was was accomplished.  Maybelline in the early 90's could be bought as a "pure play" on the "Big Board."  Maybelline for the first time in history could be bought alone.  A short number of years later, the company was bought out by L'Oreal, which is a French cosmetic manufacturer and this is where Maybelline stands today.  (From a letter written by Rags Ragland Jr.)

Wasserstein Perella, updated the brand's image by replacing former Wonder Woman star Lynda Carter with model Christy Turlington, 
By George Lazarus | June 8, 1990
Nearly in the blink of an eyelash, Schering-Plough Corp. has found a new buyer for its Maybelline operation. The new parent of Maybelline is Wasserstein Perella, one of the more prominent Manhattan wheeler-dealer firms, which plunked down $300 million for the Memphis-based cosmetics maker. That price is essentially the same as MBP Acquisition Corp., another investment group, agreed to in early April in cutting a deal for Maybelline, a firm with annual sales of about $300 million.

In appreciation to Harris A. Neil Jr. for the newspaper clippings used on today's post.

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