Inter Parfums buys Nickel
This article was originally published in The Rose Sheet
Executive Summary
Fragrance manufacturer's Paris subsidiary, Inter Parfums SA, completes purchase of majority stake in Nickel, firm announces April 7. Inter Parfums purchased a 64% share in the men's grooming company for $6 mil. in cash, and intends to invest $3.7 mil. to expand Nickel's retail and spa distribution. Additional investment would increase firm's ownership to 74% if not matched by minority shareholders, who have from January 2007 to June 2007 to sell remaining interests to Inter Parfums. Fragrance marketer announced the acquisition in December, noting the purchase would provide access to the rapidly expanding men's grooming market (1"The Rose Sheet" Dec. 22, 2003, p. 7). Nickel's sales grew 50% to nearly $6 mil. in fiscal 2003, firm says...