Unilever will sell its Elizabeth Arden unit to FFI Fragrances, Miami Lakes, Fla., a maker of prestige fragrances. The $225 million deal is expected to close by yearend. The Arden unit hired J. Walter Thompson USA, New York, last year to handle its advertising but returned advertising in-house this summer after disagreements about spending. Unilever has owned Arden since 1989 but decided to divest it as part of a streamlining plan.
Copyright October 2000, Crain Communications Inc.