Planned acquisition of Cosmolab, Inc. Imprimir

Cosmolab Inc., a very important competitor in the US has been financially struggling the economic and financial crisis in 2009 and has been lead by an interim management team since April 2009.

On January 15th, 2010 Schwan-STABILO Cosmetics GmbH & Co KG has entered into an agreement to acquire all of Cosmolab’s operating assets during their chapter 11 proceedings. Cosmolab announced on January 20th , 2010 the filing of voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court. The purchase contract agreed upon by both companies is still subject to Court approval.

It is expected that court approval will be served and that Cosmolab can be officially acquired by approximately the end of April. During this time business will continue as usual and the continued payment of employee wages and benefits as well as the ability to honor existing customer programs will be ensured.

Schwan STABILO Cosmetics goal is to maintain Cosmolab as an independent company and continue and strategically further develop its business US market. With this acquisition approximately 300 employees will be able to keep their position within the company.

As one of the last companies of its kind in the US, Cosmolab represents 100 years of tradition in manufacturing cosmetic pencils. With its connection to Schwan Cosmetics and the resulting transfer of know how, it is expected that the strong loyalty of its customer base can be even further strengthened in the future.