PARIS — Inter Parfums SA said it finalized the acquisition of Rochas’ fragrance and fashion businesses from Procter & Gamble on May 29.
The activity was purchased for $108 million, excluding inventory, and financed by a 100 million euro, or $109.2 million at current exchange, loan repayable over five years.
“Based on currently low inventory levels and the timetable for its integration, Inter Parfums does not anticipate a significant impact on total sales, and confirms its prior annual guidance for 2015 set at 310 million euros to 320 million euros [or $338.6 million to $349.4 million],” the company stated.
The acquisition marks the first time Inter Parfums will integrate a brand’s fragrance and fashion businesses.
“This will allow us to apply a global approach to managing a fragrance brand with complete freedom in terms of creativity and aesthetic choices at a very high degree of visibility to establish a position of even greater preeminence for Rochas in the universe of luxury,” stated Philippe Benacin, chairman and chief executive officer of Inter Parfums SA.