NEW YORK — DLI Holding Corp. plans to open its boardroom doors, again.
The cosmetics and over-the-counter pharmaceuticals firm — known in the beauty industry for Del Laboratories Inc., the maker of Sally Hansen nail care — filed a registration statement for an initial public offering with the U.S. Securities and Exchange Commission on Friday.
In the filing, the Uniondale, N.Y.-based firm did not disclose the expected number or price range of the shares to be offered, but indicated that the total offering price could be up to $200 million.
The company stated that it will not receive any of the proceeds from the sale of shares by the selling stockholders.
Long-term plans, as outlined in the filing, include capitalizing on the firm’s brand names, which include Sally Hansen nail care, Sally Hansen/La Cross beauty implements, NYC New York Color cosmetics and Orajel oral treatment. DLI Holding Corp. plans to expand underdeveloped product categories, such as foot care and toddler care, and is eyeing new distribution channels — including dollar stores, club stores and convenience stores — and plans to increase the presence of its cosmetics in food stores.
Cosmetics is the lion’s share of the business, accounting for about 80 percent, or $80.3 million, of the firm’s 2006 net sales, which totaled $104 million. Its beauty business — by virtue of its flagship brand, Sally Hansen — is focused on nail color, nail treatment, bleaches and hair removal products, or depilatories, and beauty implements. The NYC New York Color assortment is a value-priced line of cosmetics.
In 2004, DLI Holding Corp. acquired the company — then a publicly traded company known as Del Laboratories — taking it private. DLI Holding Corp. started out as a venture between affiliates of Kelso & Co., a New York investment firm, and Church & Dwight Co. Inc., which is no longer involved. Kelso & Co. owns about 97.6 percent of DLI Holding Corp.’s outstanding common stock.
Puig Beauty Taps New Exec
NEW YORK — Puig Beauty USA has named Gary Ragusa vice president of finance and operations. Ragusa most recently worked as executive vice president and chief financial officer of TeleQuest Communication Technologies Inc. In his new post, Ragusa oversees Puig Beauty USA’s financial performance and assists with product development, strategy direction and trend forecasting. He reports to Dominique Chevalier, president of Puig Beauty & Fashion Group, North America. Ragusa previously worked for 13 years at Revlon, where he held various positions, including vice president of finance and acting cfo of London for Revlon Europe. Puig Beauty USA is the mass market arm of Puig Beauty & Fashion Group in the U.S.
This story first appeared in the August 16, 2007 issue of WWD. Subscribe Today.
Burt’s Bees Goes Global
LONDON — Burt’s Bees is keeping as busy as the bugs that keep it in business. The natural products brand, which is owned by AEA Investors, opened its first international office this month. Based in Marlow, Buckinghamshire, the office will take over distribution of the Burt’s Bees brand in the U.K. from Forever Natural starting Sept. 1. As reported, Mike Indursky, the brand’s chief marketing and strategic officer, is spearheading a drive to define what constitutes a natural cosmetics product and establish a corresponding label.