Perfumania to acquire Parlux in $170 million deal

BELLPORT, N.Y. — Perfume and fragrance retailer Perfumania announced Friday that it will acquire Parlux Fragrances in a deal valued at $170 million.

Parlux, based in Fort Lauderdale, Fla., manufactures and distributes fragrances and beauty products, and is one of Perfumania's largest trading partners.

"Parlux brings a wealth of products and expertise as a licensee, manufacturer and international distributor," Perfumania CEO Mike Katz said.

The deal is expected to close in the first half of 2012.