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US Divine Skin signs LoI to buy Mexican distributor.

MANews-(C)2009-2012

22 March 2012 a[euro]" US biotechnology firm Divine Skin Inc (OTCBB:DSKX), specialising in hair and skin products, said today it had entered into a letter of intent (LoI) to take over its Mexican distributor Divine Skin Laboratories SA de CV.

The buyer said in a statement it will announce the terms of the all-stock deal once it closes, which is expected to happen in the second quarter of 2012. The acquisition will increase Divine Skina[euro](tm)s current revenue and will expand its human resources.

The Mexican firm accounted for some 10% of Divine Skina[euro](tm)s 2011 revenue, the latter said. It has been distributing products under the DS Laboratories brand for the last three years.Country: MexicoSector: Consumer Products, Wholesale/Retail, BiotechnologyTarget: Divine Skin Laboratories SA de CVBuyer: Divine Skin IncComment: LoI

.END.PUB430>PDMarch 22, 2012>JNMANEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M & A Navigator
Date:Mar 22, 2012
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