Mendley & James
This article was originally published in The Rose Sheet
Executive Summary
Divesting entire H&BA product stable, including Certain Dri and 5 Day antiperspirant/deodorants and Rose Milk moisturizer, to privately held Numark Labs for $12.9 mil. in cash. The acquisition will allow Mendley & James to operate as a debt-free company, with an estimated operating loss of $7.3 mil. and estimated working capital loss of $24.5 mil. Numark markets 12 OTCs, including Bromo- Seltzer antacid. Mendley & James does not plan to liquidate as a result of the sale, but will sign on Warburg, Pincus to find merger candidates to "take the company in a new direction"...