Revlon owner in frame for Deluxe business

The owner of cosmetics giant Revlon was today linked to a possible bid for the Deluxe film services business being sold by UK group Rank for an estimated €677m.

Ron Perelman, who is valued at $6bn (€5.1bn) by Forbes magazine, is named by The Times as one of three short-listed bidders for the business, which is being sold to enable Rank to focus on gambling and restaurants through the Hard Rock Café chain, Mecca Bingo and Blue Square, the online bookmaker.

In the 1980s Mr Perelman acquired the Technicolor film empire as well as a string of other businesses, including Revlon and Consolidated Cigar.

Attempts to sell Deluxe have frustrated Rank in the past, particularly as its film studio customers hold change-of-control contracts forcing Rank to consult them on prospective bidders.

Reports at the weekend said the disposal of Deluxe opened the way for a takeover bid for the whole of Rank, which is valued at around €2.9bn.