08.13.24
Crown Laboratories, a privately held, global innovative leader in the skincare industry, and Revance Therapeutics, a biotechnology with aesthetic and therapeutic offerings, have entered into a merger agreement under which the companies seek to merge the two complementary organizations.
Under the agreement, the combined company will create aesthetics and skincare products with flagship brands such as DAXXIFY (toxin), the RHA Collection (filler), SkinPen (microneedling), PanOxyl (acne), Blue Lizard (sunscreen), and StriVectin (anti-aging).
Jeff Bedard, founder and Chief Executive Officer of Crown, said,
"This is a significant step forward in Crown's vision to become a fully integrated global aesthetics and skincare company, bringing innovative solutions to physicians, patients and consumers in the incredibly dynamic aesthetics and skincare market. Revance has an impressive track record in developing innovative aesthetics offerings that will complement Crown's innovative line of skincare products. As a combined company, we have the opportunity to create a comprehensive portfolio of high-growth products for all stages of life, and we will be committed to investing in education, training, and practice support for aesthetics providers across the United States."
Crown will acquire all outstanding shares of Revance's common stock, representing a total value of $924 million.
Mark J. Foley, President and Chief Executive Officer of Revance said,
"Over the past several years, Revance has brought to the market innovative aesthetic and therapeutic offerings that have elevated patient and physician experiences. We are excited about this transaction and to be joining forces with Crown Laboratories, which will enable us to broaden our provider network as well as provide us with an expanded portfolio of products. We also believe that the merger provides substantial value for our stockholders. Crown shares our commitment to innovation and scale and will help us accelerate our growth. Scale and product breadth are important factors in the markets in which we compete and, by combining with Crown, we will be able to offer our customers a more compelling range of products and services while, at the same time, benefiting from the combined strength of our collective commercial organizations."
The transaction is expected to close by the end of the year. After the merger is complete, Revance will be wholly owned by Crown Laboratories.
Upon completion, Crown Laboratories expects to be one of the leading global aesthetics and skincare companies, with over 10 skin health and aesthetic brands, and one of the largest distribution footprints in skincare across medical, retail, and e-commerce channels.
Under the agreement, the combined company will create aesthetics and skincare products with flagship brands such as DAXXIFY (toxin), the RHA Collection (filler), SkinPen (microneedling), PanOxyl (acne), Blue Lizard (sunscreen), and StriVectin (anti-aging).
Jeff Bedard, founder and Chief Executive Officer of Crown, said,
"This is a significant step forward in Crown's vision to become a fully integrated global aesthetics and skincare company, bringing innovative solutions to physicians, patients and consumers in the incredibly dynamic aesthetics and skincare market. Revance has an impressive track record in developing innovative aesthetics offerings that will complement Crown's innovative line of skincare products. As a combined company, we have the opportunity to create a comprehensive portfolio of high-growth products for all stages of life, and we will be committed to investing in education, training, and practice support for aesthetics providers across the United States."
Crown will acquire all outstanding shares of Revance's common stock, representing a total value of $924 million.
Mark J. Foley, President and Chief Executive Officer of Revance said,
"Over the past several years, Revance has brought to the market innovative aesthetic and therapeutic offerings that have elevated patient and physician experiences. We are excited about this transaction and to be joining forces with Crown Laboratories, which will enable us to broaden our provider network as well as provide us with an expanded portfolio of products. We also believe that the merger provides substantial value for our stockholders. Crown shares our commitment to innovation and scale and will help us accelerate our growth. Scale and product breadth are important factors in the markets in which we compete and, by combining with Crown, we will be able to offer our customers a more compelling range of products and services while, at the same time, benefiting from the combined strength of our collective commercial organizations."
The transaction is expected to close by the end of the year. After the merger is complete, Revance will be wholly owned by Crown Laboratories.
Upon completion, Crown Laboratories expects to be one of the leading global aesthetics and skincare companies, with over 10 skin health and aesthetic brands, and one of the largest distribution footprints in skincare across medical, retail, and e-commerce channels.
