CONTACT: Stephen Kurtz, Denver, CO 303-694-4387
Mark Grodsky, Scottsdale, AZ 602-889-4844
‘Esscentual Brands, LLC closes on $6 million subordinated debt placement’
Esscentual Brands, LLC, a Mankwitz Kurtz Investments, LLC (“MKI”) portfolio company announces the closing of a $6 million subordinated debt placement bringing additional growth capital into the consumer branded products company. Scottsdale, Arizona based Esscentual Brands is the purveyor of fragrance-oriented home and bath products under the brand names Claire Burke® and Vitabath® among others.
Having purchased the Claire Burke® and Vitabath® brands in March of 2003, MKI and the Esscentual Brands management team have profitably restructured the products and the business providing it with the financial flexibility to take on new debt capital. The Company intends to use the new capital to pay off certain acquisition debt, to fund acquisitions and for general working capital purposes.
About Esscentual Brands, LLC:
Headquartered in Scottsdale, Arizona, Esscentual Brands, LLC owns and distributes quality home fragrance, bath & body and personal care products. The company markets its products under well known brands such as Claire Burke® and Vitabath®, which are marketed primarily through department stores as well as gift and specialty shops. Claire Burke® is North America's largest and most well known supplier of upscale home fragrance products such as potpourri, vapourri, fragrance diffusers, candles, simmering oil and others. Vitabath® is a leading provider of bath and body products. Vitabath® products include bath and shower gelées, moisturizing lotions, intensive creams, moisturizing gelée bar soaps, exfoliating sugar scrubs, and moisturizing dry oil sprays.
About Mankwitz Kurtz Investments, LLC:
Mankwitz Kurtz Investments is a private equity firm that acquires controlling interests in middle market companies and enhances their value. MKI seeks situations where its years of management and financial expertise would be utilized in the strategic direction and business decisions of the company. MKI has an extensive history of private equity successes and the resources available to capitalize on future opportunities.
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