DENVER--(BUSINESS WIRE)--Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced the termination of its exclusive distribution agreement with Montagne Jeunesse, manufacturer of 7th Heaven skin care sachets.
Scott’s and Montagne Jeunesse mutually agreed to terminate the relationship. Scott’s will continue to fulfill orders of 7th Heaven sachets through June 1, 2020 and will receive approximately $1.1 million for its remaining 7th Heaven inventory, as well as two transition payments totaling $350,000.
Mark Goldstein, CEO and Chairman of Scott’s, said, “Since we began this relationship in 2001, Montagne Jeunesse has been a valued partner of Scott’s. It has been a wonderful experience to work with the team at Montagne Jeunesse for nearly two decades. Experiencing the success of the 7th Heaven brand together will forever be a part of Scott’s history.
“While this was not an easy decision for either party, we believe it is in the best interest of both companies as we pursue different strategic paths. We are fortunate to have had such a strong relationship with Montagne Jeunesse and wish their team well in their future endeavors.”
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