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In Brief: Tristar

This article was originally published in The Rose Sheet

Executive Summary

Tristar: Consummates merger with Eurostar Perfumes Aug. 31. Tristar issued roughly 10 mil. shares of Tristar Common Stock "to an affiliate" of the Core Sheth family, which wholly owns Eurostar, in exchange for outstanding Eurostar Common Stock, Tristar announces Sept. 5. As a result of the merger, the Core Sheth family holds a roughly 84% stake in Tristar. Through the deal, Tristar "stands to benefit from the sales and marketing operations of Eurostar in Central and South America" and from the firm's ability to create and manufacture products, Tristar VP and CFO Loren Eltiste states. For the nine months ended May 31, Tristar and Eurostar garnered combined revenues of about $32 mil., Tristar reports. Tristar announced the intended merger May 31 ("The Rose Sheet" July 24, p. 5)...
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