Parlux and Perfumania Holdings sign definitive merger agreement

Published: 3-Jan-2012

Perfumania to acquire Parlux’s outstanding shares


Parlux Fragrances, whose fragrance license portfolio includes Rihanna, Jessica Simpson and Paris Hilton has signed a definitive merger agreement with wholesale distributor and speciality retailer Perfumania Holdings in a transaction valued at $170m, based on Perfumania’s closing stock price of £19.55 per share on 22 December, 2011. The agreement values Parlux’s stock share at between $7.91 and $8.55.

The transaction is expected to create a more efficient and competitive company that will provide greater value to stockholders and better service to the parties’ customers and has been approved by the independent committees of the boards of directors from both companies. It is however subject to closing conditions and the approval of stockholders.

“The combination of Perfumania and Parlux is a major step toward building a more significant and financially stronger designer fragrance and beauty company,” commented Mike Katz, Parlux president and ceo. “Parlux brings a wealth of products and expertise as a licensee, manufacturer and international distributor.”

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