Toiletries firm Philosophy on the block-source

* Goldman Sachs advising on possible sale – source

* Could be valued at over $1bln – source

NEW YORK, July 22 (BestGrowthStock) – Upmarket toiletries and
cosmetics firm Philosophy Inc, owned by private equity firm
Carlyle [CYL.UL], is seeking buyers and has hired an investment
bank to advise it, a source familiar with the matter said on
Thursday.

Goldman Sachs (GS.N: ) is advising on the sale and the
company could be worth more than $1 billion, the source said.
The source declined to be identified because the process is not
public.

Carlyle bought Philosophy in 2007 from a group of owners,
according to the private equity firms’ website.

News of its auction was originally reported by Bloomberg.

The cosmetics industry has been ripe for consolidation as
companies seek exposure to new consumers in new markets.

Japan’s leading cosmetic maker Shiseido Co (4911.T: )
recently bought California-based Bare Escentuals for $1.7
billion to speed its North American expansion and its footprint
in cosmetics made with natural ingredients. Earlier this month
Estee Lauder Cos Inc (EL.N: ) acquired Smashbox Beauty Cosmetics,
a prestige brand well-known in specialty channels such as
Sephora, which is owned by LVMH (LVMH.PA: ).

Other leading cosmetic makers include France’s L’Oreal SA
(OREP.PA: ) and U.S.-based Procter & Gamble Co (PG.N: ), which owns
CoverGirl and SK-II, Elizabeth Arden Inc (RDEN.O: ) and Revlon
Inc (REV.N: ).

Philosophy, Carlyle and Goldman Sachs were not available
for comment or declined comment.

Stock Market Money

(By Megan Davies and Martinne Geller; Editing by Bernard Orr)

Toiletries firm Philosophy on the block-source