DIAL READY TO BUY FREEMAN; PLANS TO BUILD PERSONAL CARE
NEW YORK — The Dial Corp., looking to expand its role in the personal care market, said Monday that it would acquire privately held Freeman Cosmetic Corp. Terms were not disclosed.
Los Angeles-based Freeman is a leading manufacturer of natural-based hair care, bath and body products for the mass market with sales last year of $65 million. It will operate as a wholly owned subsidiary of Dial, said Larry Freeman, founder and chief executive officer, adding that he as well as other senior members of the staff will continue on in their current roles. The company’s headquarters will remain in Los Angeles.
Scottsdale-based Dial, which markets a line of natural bath and body products called Nature’s Accents, is optimistic about the strength of natural products, said Mal Jozoff, chairman and ceo, in a statement. “The Freeman products, along with our own Nature’s Accents brand, will firmly establish Dial as a leader in the dynamic natural personal care market segment where the industry’s significant growth is taking place,” he said.
Freeman Cosmetics will assume responsibility for Nature’s Accent once the acquisition is finalized, said Freeman.
He added that the company had been approached by other firms wishing to acquire it, but that in the end the match with Dial seemed to be the better fit. “We have pretty exciting entrepreneurial flair and we can use the muscle of a company Dial’s size,” said Freeman.