Physicians Formula Stockholders Approve Acquisition by Markwins
November 08 2012 - 4:01PM
Physicians Formula Holdings, Inc. (Nasdaq:FACE) ("Physicians
Formula" or the "Company") and Markwins International Corporation
("Markwins") announced today that the stockholders of Physicians
Formula approved the acquisition of Physicians Formula by Markwins
at the meeting of stockholders of Physicians Formula held on
November 8, 2012.
Upon the closing of the transaction, Physicians Formula will be
owned by Markwins. The closing is expected to occur on or before
November 13, 2012, but is subject to the satisfaction or waiver of
remaining closing conditions.
About Physicians Formula Holdings, Inc.
Physicians Formula is an innovative cosmetics and skin care
company operating in the mass market prestige, or "masstige,"
market. Under our Physicians Formula brand name, created in 1937,
we develop, market and distribute innovative, premium-priced
products for the mass market channel. We differentiate our company
by addressing skin imperfections through a problem-solving
approach, rather than focusing on changing fashion trends.
Currently, our products are sold in over 25,000 stores including
those operated by Wal-Mart, Target, CVS and Rite Aid.
About Markwins International Corporation
Based in City of Industry, California, Markwins International
Corporation is a global leader in color cosmetics, cosmetic
accessories and beauty collections. Founded by Eric Chen, its chief
executive officer, nearly 30 years ago, the privately-held company
is recognized as a top 20 purveyor in the global cosmetic industry.
Parent's brands cater to and reach consumers of all ages,
ethnicities and skin tones. Parent's brand portfolio includes wet n
wild®, The Color Workshop®, Black Radiance®, The Color Institute®
and POP® amongst many others. As of September 2012, Parent's brands
can be found in over 42,000 retail outlets including Department,
Specialty, Mass, Drug and Food stores, and are available in more
than 60 countries, spanning 6 continents.
Forward-Looking Statements
This release may include predictions, estimates and other
information that might be considered forward-looking statements,
including, without limitation, statements relating to the
completion of the merger. These statements are based on current
expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially from those
anticipated as a result of various factors. If the merger is
consummated, our stockholders will cease to have any equity
interest in our company and will have no right to participate in
its earnings and future growth. Additional factors that may affect
the future results of our company are set forth in our filings with
the SEC, including our Annual Report on Form 10-K for the year
ended December 31, 2011, as amended on Form 10-K/A filed with the
SEC on April 25, 2012, available at www.physiciansformula.com and
the SEC's website at www.sec.gov. You are urged to consider these
factors carefully in evaluating the forward-looking statements in
this release and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by this cautionary statement. Unless otherwise required by
law, we expressly disclaim any obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT: Media Contacts:
For Physicians Formula Holdings, Inc.:
Anne Rakunas
ICR, Inc.
(310) 954-1113
Anne.Rakunas@icrinc.com
For Markwins International Corporation:
For investors: Bill George at bgeorge@markwins.com
For media: Shaila Arora at shaila@arorapr.com
For all other inquiries: Alice Chen at alicechen@markwins.com
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