L’Oréal USA signs agreement to buy Carol’s Daughter
NEW YORK — L'Oréal USA has announced plans to acquire multi-cultural beauty brand Carol's Daughter.
Financial terms of the deal were not disclosed.
Created by Lisa Price in 1993, Carol's Daughter offers a range of products that are available at specialty beauty stores, mass retailers, on HSN, through e-commerce and at Carol's Daughter branded stores in New York City. For the 12 months ended Sept. 30, Carol's Daughter had net sales of $27 million.
"Carol's Daughter possesses an expertise in the multi-cultural consumer segment, a rapidly expanding market that represents an important growth opportunity in the beauty industry," stated Frederic Roze, president and CEO of L'Oréal USA. "This acquisition will enable L'Oréal USA to build a new dedicated multi-cultural beauty division as part of our Consumer Products business, and strengthen the company's position in this dynamic market."
Carol's Daughter will continue to operate out of its New York City headquarters under the brand's current leadership team. This acquisition further enhances L'Oréal USA's roster of American brands, which includes Maybelline NY, Kiehl's, Essie, Urban Decay, Clarisonic and NYX.
"I have worked hard for the past 21 years nurturing my brand and am thrilled that we will have a new home with L'Oréal USA," stated Lisa Price, founder and president of Carol's Daughter. "L'Oréal has a proven track record of helping established companies achieve their full potential while staying true to the core of the brand and they have an understanding of the future of multi-cultural beauty. I could not be more proud to begin this next chapter of the Carol's Daughter brand with them. I know that my mother (Carol) is smiling as well."
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Frank Iannarone of Madison Pharmacy receives 2014 NCPA Prescription Drug Safety Award
AUSTIN, Texas — The National Community Pharmacists Association has announced that Frank Iannarone III, owner of Madison Pharmacy in Madison, N.J., was named the winner of the 2014 NCPA Prescription Drug Safety Award.
Sponsored by Purdue Pharma, the award recognizes pharmacists who have reached out in their communities to provide education on the benefits of the correct use of prescription drug products and the hazards associated with their misuse. Iannarone received the award during the Second General Session of the 116th Annual National Community Pharmacists Association Convention and Trade Exposition held Oct. 18 to 22 in Austin, Texas.
“We are proud to present Frank Iannarone with the 2014 NCPA Prescription Drug Safety Award,” said pharmacist Mark Riley, NCPA president, EVP and CEO of the Arkansas Pharmacists Association, and an independent pharmacy owner in Little Rock, Ark. “The reason why Frank is such a deserving recipient is because of his prescription drug disposal efforts, advocacy against substance abuse, and commitment to ensuring patients properly take their medications. His tireless efforts to help his community are an inspiration to us all.”
The Drug Enforcement Administration recently announced its final regulations for The Secure and Responsible Drug Disposal Act of 2010, which allows for the disposal of controlled substances beyond law enforcement facilities to include pharmacies. Iannarone’s drug disposal efforts are well recognized as he was instrumental in getting his town to participate in its first drug take-back programs and in the installation of a permanent drug take-back box for residents. In the wake of the DEA’s new policy it is not surprising that Partnership for Drug Free New Jersey awarded his pharmacy with one of the first boxes that will handle controlled substance disposals.
In addition, Iannarone is committed to fighting the problem of drug and alcohol abuse. He sits on the board of the Madison Alliance Addressing Substance Abuse and the Morris County Alliance. Those efforts were also recognized as the Governor’s Council on Alcoholism and Drug Abuse selected him as Morris County Volunteer of the Year, which was the genesis for him being honored with Frank Iannarone Day (Sept. 24, 2012) in Madison.
"Purdue Pharma is proud to sponsor the NCPA Drug Safety Award, and salutes Frank Iannarone for his efforts to promote appropriate use of medicines," said Michael Cullen, director, pharmacy and distribution sales at Purdue. "Pharmacists are often the last healthcare professional a patient sees before taking a medication, so they play an extremely important role facilitating access to care and counseling patients about medication safety."
Iannarone purchased Madison Pharmacy shortly after graduating from the Rutgers College of Pharmacy in 1988. The pharmacy offers a wide array of services from free blood pressure testing to prescription flavoring, and even ventures outside of the pharmacy realm by being a notary, offering ear piercings, and having a public fax. Iannarone has been a preceptor for Rutgers for more than 20 years, and was voted its Preceptor of the Year in 2013 by the pharmacy students. Iannarone also routinely speaks at Rutgers pharmacy events, promoting retail pharmacy and community service.