Interparfums To Buy Rochas Brand From Procter & Gamble For $108 Mln

(RTTNews) - Inter Parfums Inc (IPAR) on Thursday said its majority owned Paris-based subsidiary, Interparfums S.A. has entered into an agreement with Procter & Gamble Co to acquire the Rochas brand. This deal is expected to be completed within the first half of 2015.

Interparfums said the deal would be payable in cash on the closing date for $108 million and financed entirely through a medium term loan.

Founded by Marcel Rochas in 1925, the brand began as a fashion house and expanded into perfumery in the 50s under Hélène Rochas' direction. The Rochas brand achieved net sales of $46 million in 2013/2014 financial year, driven mainly by the "Eau de Rochas" fragrance line.