CCA Industries, Inc. Announces That the Proposed Acquisition To Take the Company Private Continues Its Negotiations
EAST RUTHERFORD, N.J., Feb. 2 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (Amex: CAW) announced today that its negotiations, relating to the proposed acquisition of the Company by Dubilier & Company as contemplated by its previously disclosed letter of intent dated November 1, 2006 with Dubilier, are making progress.
The Company had a very profitable year in fiscal 2006. The year ended with approximately $20 million in record free cash and with a current asset to current liabilities ratio of about 3.7 to one.
The year end financial statements will be filed with the 10K on or about the middle of February 2007.
CCA Industries, Inc. manufactures and markets health and beauty aids, each under its individual brand name. The products include, principally, "Plus+White" toothpastes and teeth whiteners, "Sudden Change" anti-aging skin care products and "Scar Zone," "Nutra Nail" nail growth treatments, "Mega-T" Green Tea diet aids, "Mega-T" chewing gum, "Mega-G" diet aids, "Pound-Ex" dietary supplements, "Hair Off" hair removal and depilatories, "Bikini Zone" medicated creme and gel for the bikini area, "Solar Sense" sun protection products, and "Cherry Vanilla" Perfume.
Statements contained in the news release that are not historical facts are forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which would cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.
SOURCE CCA Industries, Inc.
Released February 2, 2007