In Brief: QVC invests in Hydron Technologies
This article was originally published in The Rose Sheet
QVC invests in Hydron Technologies: Electronic retailer QVC purchases 500,000 shares of Hydron's common stock for $2.50 a share. The $1.3 mil. deal gives QVC a 2.2% voting interest in the Boca Raton, Fla.-based personal care marketer. QVC also has the option to purchase another 500,000 shares of the company at $2.75 apiece. QVC and Hydron have also modified their marketing agreement, giving the electronic retailer the direct response television rights to the Hydron brand based on a minimum product purchase requirement of $30 mil. for two years. The agreement increases that purchase requirement by 20% for each additional two-year term, Hydron said. Also under the deal, Hydron regains retail marketing rights to the personal care brand, including department and specialty store distribution and catalog sales. The Hydron personal care line-up is currently marketed only on QVC and through Hydron's infomercial. The company plans to develop a direct sales catalog during the third quarter...
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