Deals: Mary Kay Paints a Private Face

Mary Kay Paints a Private Face

Mary Kay Cosmetics has become famous for rewarding its top sales women with pink Cadillacs, diamond-studded bumblebee pins and expense-paid trips to Hawaii. Such glitzy incentives are not the norm among publicly traded companies, but Mary Kay (1984 sales: $278 million) does not have to worry. It will no longer be listed on any exchange. The company's directors last week agreed to sell the firm for $300 million to a group headed by Chairman Mary Kay Ash and her son Richard Rogers, the president.

Ash, who founded the cosmetics distributor in 1963, became a multimillionaire after selling stock to the public...

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