Drugstore.com to absorb SkinStore.com
This article was originally published in The Tan Sheet
Executive Summary
The online retailer will acquire SkinStore.com owner Salu Inc. for $36 million and move "one step closer toward achieving our goal of becoming the leading online retailer of beauty and spa products," drugstore.com says. The Bellevue, Wash.-based firm on Dec. 28 said it intends to close the half-cash, half-stock deal in the first quarter of 2010. SkinStore.com, which carries skin health supplements, sun care products and clinical skin care items, will complement the higher-end cosmetics in the Beauty.com portal, which drugstore.com acquired in 2000 (1"The Tan Sheet" May 1, 2000). Salu, which will continue to operate in Sacramento, Calif., is expected to generate $40 million in revenue and $500,000 in net income for 2009
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