The Fragrance Counter
This article was originally published in The Rose Sheet
Executive Summary
Allou Health & Beauty sells controlling interest in its Internet beauty store The Fragrance Counter to The Subdury Group for $37.5 mil. About $17.5 mil. will be spent on building the Web site into an "Internet portal of beauty and well-being," Allou said. Using the expertise of its new investor, Allou will work to attract women of varied demographics to the site. The company has received about $19 mil. of the purchase price, which will result in a 28% increase in shareholder equity and negate anticipated losses, Allou said. The Subdury Group is led by venture capitalist Samuel Waksal, PhD, who has also served as CEO at ImClone Systems. Martha Stewart and Ogilvy & Mather CEO Charlotte Beers sit on Sudbury's board
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