Buyers Wanted for New Dana Perfumes Shares

New Dana Perfumes, Mountaintop, PA, has retained Carl Marks Capital Advisors, LLC. (CMCA) for the purpose of offering shares in New Dana Corporation owned by an investment partnership controlled by Dimeling, Schreiber & Park (DSP) to a select group of potential buyers.

New Dana Perfumes, which was previously operated as Renaissance Cosmetics Inc., was purchased by DSP in August of 1999. According to William R. Quinn, Principal, DSP, “We are in the business of buying distressed companies that have the people and products that can help us fix the problem. The timeframe for turnaround with the companies we work with is generally three to five years. When DSP purchased the controlling shares in 1999, the company had filed for Chapter 11 and needed a major operational and financial restructuring. At this point in time, the turnaround is complete as NDP is a healthy company with annual sales in excess of $73 million, and is poised for continued growth.”

Tony Wesley, chief operating officer of NDP, had this to say, “We have accomplished what we set out to do and are proudly launching the first new fragrance under the NDP banner, Secrets by Dana, as well as a new line from the New Cosmar Corporation nail and beauty division of New Dana Perfumes Corporation called Frills. We have re-established and strengthened our retail partner relationships and re-stored our brands to previous levels of growth and beyond.”

Mr. Wesley added, “Everyone knows the mass market is in decline. Our brands have proven they can perform on an upswing even in periods of decline and the numbers reflect that. Our classic brands such as Canoe, Chantilly, Tabu and English Leather have really come through. Our seasonal promotions are in full swing and the fact that we have been able to launch a totally new product line at New Cosmar (Frills) and introduce a new fragrance (Secrets by Dana) says we are here to grow. This company has come a long way in the most positive sense.”