PARLUX PUTTING ITSELF ON BLOCK, HIRES MONTGOMERY SECURITIES
FORT LAUDERDALE, Fla. — Parlux Fragrances Inc. has retained Montgomery Securities to explore the possibility of a merger or sale.
“Basically, we’re putting the company up for sale, and we’ve hired Montgomery to help us,” said Jeffrey Dame, executive vice president at Parlux.
In February, Parlux retained Salomon Bros. as an adviser to seek ways of increasing shareholder value, including possible private placements, acquisitions or mergers.
Parlux dropped the relationship in June when the Dallas-based investment firm Haas Wheat & Partners agreed to a $40 million investment in Parlux.
The arrangement fell through, however, when Haas sought to acquire control of the company rather than remain a passive investor.
In the second quarter ended Sept. 30, Parlux’s earnings jumped 42.5 percent to $2.1 million, or 12 cents a share, from $1.5 million, or 15 cents a share, a year ago.Sales skyrocketed 83 percent to $25.5 million from $13.9 million.
Parlux holds fragrance licenses for Perry Ellis, Fred Hayman Beverly Hills, Vicky Tiel, Todd Oldham and Phantom of the Opera; wholly owns the Alexandra de Markoff and Bal e Versailles brands, and markets five in-house brands, including Animale Parfums.