Spectrum, CVC in Advanced Talks on $2 Billion Conair Deal
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Conair Beauty products
(Bloomberg) Spectrum Brands Holdings Inc. and private equity firm CVC Capital Partners are in advanced talks to acquire hair-dryer maker Conair Corp., according to people with knowledge of the matter.
The deal could value Stamford, Connecticut-based Conair at about $2 billion, the people said, asking not to be identified because the information is private. The suitors aim to reach an agreement within weeks, though negotiations could still fall apart, the people said.
Closely held Conair, founded in 1959 by Lee Rizzuto, makes products including hair dryers and curling irons. It also sells professional styling equipment under the BaByliss PRO brand and owns kitchen appliance maker Cuisinart, according to its website.
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