Mr. Anderson continued, “I am extremely excited about the potential of Red Door Spas. The Elizabeth Arden Red Door Spa enjoys tremendous brand equity. As one of the most highly recognized names in the nearly $50 billion global spa industry, I look forward to leveraging this brand name in expanding the business.”Alison Minter, North Castle Partners Managing Director, stated, “We believe the opportunity to align our economic interests and to leverage Elizabeth Arden, Inc’s. corporate resources and marketing capabilities, particularly in expanding product sales, will strengthen Red Door Spa Holdings’ leadership position in the day spa market. This transaction is another example of North Castle partnering with management teams to build high quality brands that are of strategic value to leading consumer product companies.” Red Door Spa Holdings currently owns and operates 31 Red Door Spas in freestanding locations and upscale resort and hotel properties in the United States and 18 Mario Tricoci Hair Salons in the Chicago metro area and had combined revenue of approximately $150 million in fiscal 2011. Mr. Anderson has been a developer, owner, and manager of hotel and resort projects. Mr. Anderson’s experience also includes spa development, management and consulting. Mr. Anderson has been involved in various hotel and spa properties, including the Hyatt Regency Pier 66, Fort Lauderdale, Florida and Sonoma Mission Inn & Spa, Sonoma, California. Sonoma Mission Inn & Spa was a pioneer in resort spas and one with a significant salon presence. A joint venture managed by Mr. Anderson created the first Ritz-Carlton Spa in San Juan, Puerto Rico, which also had a significant salon presence, under the brand name SonomaTherapy™ Spa. This spa consistently performed as one of the best spas at Ritz-Carlton properties, ranking in the upper quartile for all Ritz spas. Mr. Anderson has also provided consulting services to other hotel and resort companies, including Swissotel, Grupo Huarte, and Host Hotels.