TRISTAR CORPORATION Announces the Acquisition of Fragrance Impressions Limited of Bridgeport, Conn.
SAN ANTONIO--(BUSINESS WIRE)--Nov. 16, 1999--TRISTAR CORPORATION (Nasdaq:TSAR - news; ''Tristar'') today announced the acquisition of Fragrance Impressions Limited (''Fragrance Impressions'') of Bridgeport, Conn.
Richard R. Howard, President and Chief Executive Officer of Tristar stated that, ''Fragrance Impressions with annual sales volume in excess of $10,000,000 will operate as a wholly owned subsidiary of Tristar, thus preserving it's sales and marketing strengths.''
In addition Howard said, ''the technological advances of Tristar allow Fragrance Impressions the ability to bring innovative, quality products to the marketplace more rapidly.''
This partnership combines Tristar's state of the art operational, design and manufacturing capabilities, including sourcing of components and global distribution network, with the entrepreneurial sales and marketing creativity of Fragrance Impressions.
With this acquisition, Tristar will clearly increase its share as the market leader in the alternative designer fragrance category across all sales channels, with annual sales volume exceeding $70,000,000 in fiscal 2000.
Howard also stated that, ''Tristar has significantly strengthened it's management team during the past two years with proven professionals who thoroughly understand the needs of the chain drug and mass retailer community as well as the wholesale and specialty store segments.''
Another major benefit of this acquisition is that it greatly complements and broadens the product mix and price point offerings of the Company as well as adding new distribution in drug chains, food chains and mass merchandisers. Thomas McCann, President of Fragrance Impressions Limited stated that, ''Fragrance Impressions' products are sold in approximately 13,000 retail stores where they have a loyal customer following.''
''The combination of Tristar and Fragrance Impressions,'' said Howard, ''brings together two strong companies that, as one, will significantly enhance its position as the market leader in the alternative designer fragrance category, and in commitment to quality and value in the mass and chain drug trade channels.'' |
