News

Pacific World receives $215M in financing from Prospect Capital

BY Antoinette Alexander

NEW YORK — Prospect Capital Corp. announced that it recently provided $215 million of first lien senior secured credit facilities to support the recapitalization of beauty company Pacific World.

Pacific World, which is a portfolio company of Levine Leichtman Capital Partners, manufacturers nail and beauty care products for the food, drug, mass, and value retail channels worldwide. It markets more than 5,000 products in more than 86,000 retail locations worldwide with such brands as Nailene, Trim, SensatioNail, Fuse, Fing'rs and Woodward's Myocide. Pacific World also acts as the exclusive sales and marketing distributor of Bio-Oil in the United States, and holds a licensing agreement to market Revlon-branded artificial nails and false eyelashes.

"We are excited to provide a one-stop financing solution to Pacific World," said Richard Carratu, a managing director of Prospect Capital Management LLC. "We welcome the opportunity to support LLCP and the Pacific World management team as they continue to grow the business."

The $215 million financing provided by Prospect marks the 11th time in the last two years that Prospect has invested more than $100 million in a single transaction.

Currently with more than $7 billion of capital under management, Prospect has closed more than $2 billion of new originations so far in calendar year 2014.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Coty Beauty unveils new Stetson Caliber for men

BY Antoinette Alexander

NEW YORK — Coty Beauty has introduced its new Stetson Caliber fragrance for men, which celebrates the integrity and inner strength of today's young, hardworking American man.

Available at drug stores and mass retailers nationwide, the new fragrance opens with sparkling lime and black pepper. Earthy oakmoss adds depth of character, but the true star is the fresh and woody red sequoia note. Found only in America, the Red Sequoia tree gives the fragrance a strong, sexy masculine finish.

According to the TNS Online Omnibus Survey, commissioned by Coty Beauty Fragrances in July 2014:

•    90% of men and 88% of women think it's important for men to behave chivalrously toward women;
•    Men claim to be more chivalrous than women perceive them to be:  6-out-of-10 men in the United States consider themselves chivalrous, but only 4-out-of-10 women agree;
•    More than half of men claim they give others their undivided attention, but less than 1-in-10 women actually say this is true; and
•    The most chivalrous states are Mississippi, Alabama, Tennessee and Kentucky. By contrast, the least chivalrous are the New England states of Maine, Vermont, New Hampshire, Massachusetts and Rhode Island.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Supervalu confirms second payment systems breach

BY Vivian Gomez

EDEN PRAIRIE, Minn. — Just a little more than a month after Supervalu announced a data breach, the company has confirmed a second malware attack on its payment systems.
 
On Aug. 14, Supervalu announced that it had experienced a criminal intrusion into the portion of its computer network that processes payment card transactions at some of its retail food stores, including some of its associated standalone liquor stores, but not including its Save-A-Lot stores.
 
The company believes that the second incident occurred anywhere between late August and early September 2014. Different malware from the one installed in the first incident was discovered in the payment systems at some of its Shop ’n Save, Shoppers Food and Pharmacy and Cub Foods owned and franchised stores, including some of its associated standalone liquor stores.
 
The company believes this was a separate intrusion from the one announced Aug. 14. The company said that it took immediate steps to secure the affected part of its network, and believes it has eradicated the malware. An investigation of this recently discovered incident is underway.
 
Supervalu also touted its enhanced protective technology, saying that it significantly limited the recently discovered malware’s ability to capture data from payment cards where the malware was installed. Specifically, although the investigation is ongoing, Supervalu believes that this latest breach did not succeed in capturing data from any payment cards used at any stores other than at some checkout lanes at four Cub Foods franchised stores, adding that “even as to the checkout lanes at these four stores, the company has made no determination that any cardholder data was in fact stolen by the intruder.”
 
The company does not believe that the malware affected any of its Farm Fresh or Hornbacher’s stores, any of its owned or licensed Save-A-Lot stores or any of the independent grocery stores supplied by the company through its independent business network — other than the affected Cub Foods franchised stores.
 
The company has notified federal law enforcement authorities of this latest incident and is cooperating in their efforts to investigate the matter and identify those responsible.
 
“We care greatly about our customers, and the safety of their personal information will continue to be a top priority for us,” said president and CEO Sam Duncan. “We’ve taken measures to install enhanced protective technology that we believe significantly limited the ability of this malware to capture payment card data and we will continue to make these investments going forward.”
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?