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Zorbit Acquired by Maesa for $50 Million

France-based company takes full stake in New York beauty marketer

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By: Jamie Matusow

Editor-in-Chief

Maesa, the Levallois-Perret, France-based firm, took a 100% stake in Zorbit of New York, in a deal signed this month. Some $12.5 million was paid on the day of the signing, Jan. 9, while the remainder will be paid over five years, depending in part on Zorbit’s financial performance, says the company.

Zorbit was created in 2003. It also has offices in Los Angeles and Shenzhen, China. The company’s revenues last year were approximately $45 million and in 2007, were $23 million, according to the firm.

Maesa’s sales for the fiscal year ended Sept. 30, 2008, were $56.9 million. Following Maesa’s acquisition of Zorbit, the company has 200 employees.

Starting on Jan. 16, the team from Maesa’s New York-based subsidiary moved into Zorbit’s headquarters, in the same city. Maesa’s U.S. business is now estimated to reach $74 million. Following the acquisition, Zorbit’s U.S. outpost should generate approximately $70 million, says reports. Maesa stated it is on track to reach its sales objectives of $100 million in 2010.

It was also reported that Maesa appointed François Duquesne as chief executive officer of Maesa Beauty and Maesa Home Europe and Laurence Hyest as the company’s chief procurement officer.

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