Drugstore.com Acquires SkinStore.com in Stock and Cash Deal
Posted on December 29, 2009
Drugstore.com, Inc., which owns drugstore.com and beauty.com, has entered into an agreement to acquire Salu, Inc. in a stock and cash transaction. Salu owns and operates SkinStore.com, a an online retailer of clinical skin care and beauty products. Salu also has distribution capabilities in Australia and operates the spalook.com webstore for Sandow Media, parent company of NewBeauty Magazine.
Dawn Lepore, CEO and chairman of Drugstore.com, says in a statement, "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. 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."
Jim Steeb, CEO of Salu, added, "We will continue to build the SkinStore brand and our partnership with spalook and to serve our customers well. We believe drugstore.com along with Beauty.com, is the best partner to help us do this over the long term."
SkinStore is being run as a separate site.