Drugstore.com buys Salu for $36M, expands skin care line |
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Drugstore.com buys Salu for $36M, expands skin care line
Drugstore.com is bolstering its line of skin and beauty products, purchasing Salu Inc. in a cash and stock deal valued at $36 million. Salu operates SkinStore.com, an e-commerce site that sells skin creams, cosmetics and other products. The company also operates that Spalook.com Web site for NewBeauty Magazine.
Salu, which is based near Sacramento, is expected to generate $40 million in revenue and $500,000 in net income this year.
"Beauty is a cornerstone of our growth strategy, and we are delighted to expand our footprint with the addition of SkinStore.com to our online portfolio," said Drugstore.com CEO Dawn Lepore in a statement. "This acquisition will further solidify our position as a first choice for beauty consumers and brings us one step closer toward achieving our goal of becoming the leading online retailer of beauty and spa products."
Salu has raised money from El Dorado Ventures, Atlas Venture and MDS Capital.
In 2000, drugstore.com moved deeper in the cosmetic category with the purchase of Beauty.com for $42 million.
Shares of drugstore.com are up nearly three percent today, trading at $3.33.
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