Rogers appointed to Physicians Formula board of directors
AZUSA, Calif. Cosmetics company Physicians Formula has appointed Jeff Rogers, the company’s president, to join its board of directors. He succeeds Craig Frances, who has resigned to devote more time to his other business activities.
Rogers has served as president of the company since August 2006 and as senior vice president of sales from January 1998 to August 2006. He joined the beauty company in April 1991 as a sales director and was promoted to vice president of sales in June 1991. Previously, Rogers worked at Revlon and Del Laboratories.
“We appreciate Craig Frances’ contribution to Physicians Formula and thank him for his valued input and contribution over the past four years,” stated Ingrid Jackel, chief executive officer.
Current board member Jeff Berry will assume Frances’ roles as chair of the compensation committee. In addition, current board member Sonya Brown will join the compensation committee and will also assume the role of chair of the nominating and corporate governance committee.
Del sale to Coty closes as planned
NEW YORK It’s official. Coty Inc. closed on its acquisition of Del Laboratories—the maker of the Sally Hansen, N.Y.C. New York Color, La Cross, Orajel and Dermarest brands—on Dec. 31 as expected. Financial terms of the deal were not disclosed.
Under the terms of the agreement, all operations of DLI Holding, the parent company of Del Laboratories, will merge into Coty. Del Labs and DLI Holding Corp., which was principally owned by investment funds associated with Kelso & Co., have become wholly owned subsidiaries of Coty.
As reported, the deal brings Coty one step closer to becoming a $5 billion beauty company. Coty ended the 2007 fiscal year with net sales of $3.3 billion. It also expands Coty Beauty’s portfolio and gives the company a foothold in the OTC pharmaceutical business.
“We view the acquisition of DLI Holding Corp. as a natural extension of our strategy to offer a unique portfolio of brands that produce some of the strongest consumer franchises around the world,” stated Bernd Beetz, chief executive officer of Coty, in announcing the deal. “Del’s established, well-regarded portfolio of quality products mesh well with our core offerings, and their strong presence in North America complements Coty Beauty and Coty’s international strengths.”
For the year ended Dec. 31, 2006, Del Laboratories posted sales of $425.9 million. Del’s cosmetics business accounted for approximately 80 percent of its 2006 net sales, which is focused on nail color, nail treatment, bleaches and hair removal products, depilatories, beauty implements and value cosmetics.
Meanwhile, Del’s OTC pharmaceutical business accounted for approximately 20 percent of its 2006 net sales. That segment is focused on oral analgesics, children’s toothpaste and sore throat relief and specialty OTC products.
Del’s products are available in more than 60,000 retail locations domestically. Internationally, it has experienced growth from its direct operations in Canada, the United Kingdom, Puerto Rico and Mexico and through distributors, licensees and joint venture relationships in approximately 60 countries.
Songe to be showcased at Los Angeles awards shows
LOS ANGELES Songe Skincare has announced its launch in Los Angeles as it gears up to be showcased at several leading entertainment events throughout 2008 including The Golden Globe Awards, The Oscars and The Emmys.
The skin care line is made from natural products in Australia and designed in Los Angeles by entertainment graphic designer and skin care enthusiast David Nordlund.
Songe products are designed to cleanse, purify and restore the skin. The line is available in three fragrances: Cranberry Mint, Lemongrass Lime and Ginger, and Rockmelon. The line includes bath and body foam, body scrub, body milk lotion, shea butter rich body souffle and hand creme. Prices range between $15 and $21.