12.28.09
Online reatiler Drugstore.com, which owns and operates Beauty.com, has acquired Salu, Inc., which owns and operates the SkinStore.com. In addition, Salu has distribution capabilities in Australia and operates the spalook.com webstore for Sandow Media, parent company of NewBeauty magazine.
According to the companies invovled, the acquisition will create one of the largest online beauty retailers offering mass beauty products on drugstore.com, prestige beauty brands on Beauty.com and clinical skin care products on SkinStore.com.
Salu is expected to generate sales of approximately $40 million in 2009, $500,000 of net income and $1.4 million of adjusted EBITDA, excluding one-time transaction-related charges.
Under the agreement, Salu will continue to focus on its brands and "exceptional customer experience" from its operations in Sacramento, CA. Drugstore.com is based in Bellevue, WA.
"Beauty is a cornerstone of our growth strategy, and we are delighted to expand our footprint with the addition of SkinStore.com to our online portfolio," said Dawn Lepore, chief executive offer and chairman of the board, Drugstore.com.
Salu is expected to generate sales of approximately $40 million in 2009, $500,000 of net income and $1.4 million of adjusted EBITDA, excluding one-time transaction-related charges.
Under the agreement, Salu will continue to focus on its brands and "exceptional customer experience" from its operations in Sacramento, CA. Drugstore.com is based in Bellevue, WA.
"Beauty is a cornerstone of our growth strategy, and we are delighted to expand our footprint with the addition of SkinStore.com to our online portfolio," said Dawn Lepore, chief executive offer and chairman of the board, Drugstore.com.
"This partnership is a tremendous opportunity to leverage each other's strengths and together become a clear leader in online beauty," added Jim Steeb, chief executive officer of Salu, Inc. "We will continue to build the SkinStore brand and our partnership with spalook and to serve our customers well. We believe drugstore.com along with Beauty.com, is the best partner to help us do this over the long term."