Crown Laboratories, a part of Hildred Capital Management's portfolio, is acquiring Strivectin from L Catterton. The transaction is expected to close by mid-September 2021.

StriVectin's products will become part of Crown's new Premium Skincare Division and will operate as a wholly-owned subsidiary of Crown Laboratories. The new division will also include sunless tanning brand Vita Liberata.

StriVectin's President, Cori Aleardi, (shown above) will become President and Chief Commercial Officer of Crown and will join the Crown Executive Leadership Team. StriVectin will continue to be based in New York City.

Jeff Bedard, CEO, Crown Laboratories, comments:

"Partnering with StriVectin is an exciting and significant next step in diversifying and scaling our organization. StriVectin has assembled a truly impressive team, a proven business model, and a premier product portfolio that is beloved by its customers."

Bedard continues:

"We are particularly excited that Cori will be assuming a senior executive role at Crown, helping to guide the merged businesses—and we think the combined talents of both teams will enable us to accelerate growth across all our product areas." 

Cori Aleardi, President of StriVectin, adds: 

"We are excited to build on our success in this next chapter as StriVectin continues to redefine the science of skincare and changes the way people feel about their skin. As part of Crown, StriVectin will benefit from additional resources to expand infrastructure, support future growth, and deliver on our commitment to provide next-generation skincare to every generation and put the science of skin health first."

The acquisition strengthens Crown's overall skincare product portfolio, which includes:

• Crown Aesthetics, maker of SkinPen, the first FDA-cleared micro-needling device
• Crown Therapeutics, maker of acne wash PanOxyl, topical anti-itch brand Sarna, and Australian sunscreen Blue Lizard.

David Solomon, Hildred Managing Partner and Chairman of the Board for Crown Laboratories adds, "Both Crown and Strivectin are generating impressive growth, and the opportunity for complementary growth between the two organizations is tremendous. The StriVectin portfolio complements Crown's current skincare offering and expands the combined organization's potential to grow and drive further product development, which is the heartbeat of any organization."

L Catterton invested in Strivectin in 2009, transforming it into a premium skincare brand. Avik Pramanik, a Partner of L Catterton's Flagship Buyout Fund, comments, "We are pleased to have played a role in their dramatic growth and are confident that Crown is the right partner for StriVectin as they strive to reach their next level of success."

Launched in 2002, StriVectin is ranked the most effective anti-aging skincare brand by consumers.

Crown's CEO Jeff Bedard explains the company's manufacturing capabilities in the video below via Instagram.

 

 

 

 

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A post shared by @crownskinscience