Tsumura U.S. bath/home fragrance business on auction block.
This article was originally published in The Rose Sheet
Executive Summary
TSUMURA BATH/HOME FRAGRANCE BUSINESS ON AUCTION BLOCK: $140 MIL. IN SALES for fiscal 1997 (ended March 31) comes from the company's high-end Vitabath bath products, Kid Care children's toiletries and various home fragrances as well as the personal fragrances Tsumura has been divesting for the past year. Secaucus, N.J.-based Tsumura International announced Jan. 30 that its Tokyo-based parent, Tsumura & Co., has put the business up for sale, explaining the divestiture will allow Tsumura & Co. to "focus resources on expanding the company's core Kampo (traditional Japanese herbal medicine) business in Japan and on a worldwide basis." Tsumura expects to have a purchasing deal wrapped up within the next several months but said it may take as long as six months to a year for completion. The New York investment firm Knox & Co. is assisting in the sale.