Perfumania and Parlux merge to form single fragrance force
New York-based Perfumania Holdings has signed a merger agreement with Florida-based Parlux Fragrances.
As part of the merger, Perfumania has stated it will buy all of Parlux’s outstanding shares worth $170m, which is expected to close in the first half of 2012.
The transaction is expected to form a more efficient and competitive company that will be able to provide better service to customers and value to shareholders, according to a company statement.
“The combination of Perfumania and Parlux is a major step toward building a more significant and financially stronger designer fragrance and beauty products company”, said Mike Katz, Perfumania CEO.
