Garden Botanika suitor won't change products
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St. Louis-based Schroeder & Tremayne, the company that is proposing to acquire Garden Botanika's name, Web site and recipes for its soaps, cosmetics and body lotions, says it values the product line and won't change any of the formulas.
"Garden Botanika has a strong heritage, an excellent product offering and a strong consumer base we're looking at leveraging off of," said James Wilmsen, managing director of Schroeder & Tremayne, said yesterday.
"How we do that, we don't know, but we will not jeopardize any of that. We think we understand the target audience, but what is the right distribution strategy for this brand? There is a lot of risk in this transition," he said.
Privately held Schroeder & Tremayne began 86 years ago by importing sea sponges and natural leather chamois.
Today the company is best known for its line of auto-care products, which sell under the names Viking, John Bull and Armorall, and its bath and body-care products sold under the names Lady Elizabeth and GLOW: Girls Leading Our World.
Garden Botanika was $18 million in debt when it filed for bankruptcy protection in April 1999.
One of its creditors was Schroeder & Tremayne, which was owed $1,454 for brushes and sponges. Last week the company offered $1.32 million for Garden Botanika's assets. A hearing on the offer is scheduled for Feb. 28. Any competing bids must be submitted to the U.S. Bankruptcy Court by Feb. 22.
Yesterday the Buxbaum Group of Encino, Calif., was appointed to oversee liquidation of the company. Two other firms that specialize in liquidating inventory are conducting going-out-of-business sales at Garden Botanika's 109 remaining stores, all of which will be closed by April.
Schroeder & Tremayne sells its lotions and bath accessories through large chain stores such as Bartell Drug, Wal-Mart and Albertson's.
Wilmsen left open the possibility the company could one day open its own retail outlets. Wilmsen would not be more specific about how his company plans to distribute Garden Botanika products until after the court approves its planned acquisition of the company.
Garden Botanika, which markets bath and personal-care products made of natural ingredients, got into financial trouble during the 1990s because it expanded too rapidly in an oversaturated market, analysts and company officials said.
Robert T. Nelson's phone message number is 206-464-2996. His e-mail address is rnelson@seattletimes.com.