Both sets of shareholders gave the move ‘strong support’
Perfumania Holdings Inc, a vertically integrated wholesale distributor and speciality retailer of fragrances and related products, has completed its acquisition of Parlux Fragrances Inc.
The outstanding shares of Parlux common stock were converted into the right to receive cash and Perfumania common stock with an aggregate value of approximately $118m and Parlux became a wholly-owned subsidiary of Perfumania.
Upon completion of the merger the Parlux directors were also themselves elected to Perfumania’s board of directors.
Mike Katz, president and ceo of Perfumania said of the acquisition: “We are pleased with the strong support that both Perfumania and Parlux shareholders gave this transaction and are excited about the opportunity to create additional value for our shareholders, vendors, customers and employees.”