In Brief: Parlux Fragrances
This article was originally published in The Rose Sheet
Executive Summary
Parlux Fragrances: Considering "small niche acquisitions" using capital expected from a $40 mil. investment by Dallas-based private investment firm Haas Wheat & Partners, Parlux said in a May 8 statement announcing a non-binding letter of intent between the two companies. Parlux recently acquired Richard Barrie fragrances, Alexandra de Markoff fragrances and cosmetics and the Bal a Versailles scents. Expected to be completed by "the end of the summer," the investment would also be used toward the retirement of Parlux' long-term debt and for general corporate purposes. Haas Wheat, which would receive warrants to purchase roughly 25% of Parlux' fully diluted equity ownership, currently holds a 40% stake in Playtex Products...