BROKEN ENGAGEMENT: Riviera Concepts isn’t changing hands just yet. Though it was widely reported in the fall that former Sanofi head Lawrence J. Aiken was ready to lead a team of investors in a takeover, the deal apparently has fallen through. According to sources, Aiken’s letter of intent to purchase expired Jan. 1, leaving the Toronto-based manufacturer of the Nicole Miller, Alfred Sung and Bob Mackie scents still on the block.
GROWING BUSH: Profits at Bush Boake Allen Inc., a supplier of fragrances and flavors, rose 10.8 percent in the fourth quarter on a 6 percent gain in sales. In the quarter ended Dec. 25, earnings increased to $6.6 million, or 34 cents a share, from $6 million, or 31 cents, a year ago. Sales grew to $107.7 million from $98.6 million.
In the latest quarter, operating income advanced 13 percent, driven by solid flavor and fragrance operations in Europe and Asia Pacific. In the Americas, the company noted, growth in its seasonings business offset some softness in the U.S. fragrance business resulting from customer consolidation. The Montvale, N.J.-based firm added that strong sales in Turkey and Eastern Europe were not enough to offset weakness in India and South Africa, where fourth-quarter sales were flat and operating income was down.
In the full year, profits climbed 19 percent to $30.4 million, or $1.58 a share, from $25.5 million, or $1.33. Sales were up 13 percent to $424.6 million from $375 million.