Elizabeth Arden (RDEN), Partner Make $12M Investment in Red Door Holdings
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Elizabeth Arden, Inc. (NASDAQ: RDEN), a global prestige beauty products company, today announced that it has made an investment in Red Door Spa Holdings, the operator of the Elizabeth Arden Red Door Spas and the Mario Tricoci Hair Salons privately owned by North Castle Partners.
Elizabeth Arden, Inc. ("the Company") licenses the trademarks for the Elizabeth Arden and Red Door brand names to Red Door Spa Holdings, the owner and operator of the Elizabeth Arden Red Door Spas. Red Door Spa Holdings is a privately-held company backed by North Castle Partners ("North Castle"), a leading investor in small-cap consumer companies focused on Health, Wellness and Active Living. Elizabeth Arden, Inc. has partnered with J.H. Anderson Holdings, Inc. and its principal John Anderson, to collectively invest $12 million for a minority interest in Red Door Spa Holdings. In addition, Elizabeth Arden, Inc. and J.H. Anderson Holdings have an option to acquire the remaining interest in Red Door Spa Holdings. The investment will be recorded as a minority investment by the Company and, therefore, it will not have a material impact on the Company's financial results.
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Elizabeth Arden, Inc. ("the Company") licenses the trademarks for the Elizabeth Arden and Red Door brand names to Red Door Spa Holdings, the owner and operator of the Elizabeth Arden Red Door Spas. Red Door Spa Holdings is a privately-held company backed by North Castle Partners ("North Castle"), a leading investor in small-cap consumer companies focused on Health, Wellness and Active Living. Elizabeth Arden, Inc. has partnered with J.H. Anderson Holdings, Inc. and its principal John Anderson, to collectively invest $12 million for a minority interest in Red Door Spa Holdings. In addition, Elizabeth Arden, Inc. and J.H. Anderson Holdings have an option to acquire the remaining interest in Red Door Spa Holdings. The investment will be recorded as a minority investment by the Company and, therefore, it will not have a material impact on the Company's financial results.
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