09.01.15
Skin care maker DS Healthcare Group of Pompano Beach, FL, will acquire WR Group, a $50 million maker of personal care products, including supplements, baby care, oral care and pet care products.
The deal includes $35 million in cash and $2.5 million in restricted shares of DS Healthcare common stock.
Overall, the acquisition adds more than 900 products and 15 brands to the DS Healthcare portfolio.
The move will make DS Healthcare one of the world’s largest publicly traded online personal care distribution companies, with more than two million customers who have placed more than four million orders since 2001, according to the company’s chief executive.
“This is a transformative acquisition for DS Healthcare shareholders, that we believe will immediately result in the creation of a consumer-based online powerhouse and will serve as a scalable global platform for growth and an immense selection of products and brands for mass-retail channels,” said Daniel Khesin, CEO, DS Healthcare.
In other news, DS Healthcare Group appointed Manuel Gonzalez, a former vice president of sales for the Procter & Gamble Company, as its chief commercial officer.
According to DS Healthcare, in his role at P&G, Gonzalez was responsible for managing an organization with $30 billion in revenue including the entire North American merchandiser sales force of over 3,000 sales representatives for all P&G product categories, including the company’s extensive personal care products portfolio.
Gonzalez has joined the DS Healthcare management team to help rapidly scale sales operations of DS Healthcare’s innovative personal care products due to his extensive experience managing massive retail operations and his knowledge of every significant retail channel in the United States and South America.
“After spending time at DS Healthcare headquarters, I could not be more excited to join the team,” said Gonzalez. “The innovative product development expertise and the many retail opportunities that the company’s existing and future products offer through disruptive technologies is remarkable. The industry is making a shift towards higher performance products and DS Healthcare is a major leap over competitors. Since the team here has figured out the most challenging part —making the world’s most advanced personal care products—the potential here is virtually unlimited.”
The deal includes $35 million in cash and $2.5 million in restricted shares of DS Healthcare common stock.
Overall, the acquisition adds more than 900 products and 15 brands to the DS Healthcare portfolio.
The move will make DS Healthcare one of the world’s largest publicly traded online personal care distribution companies, with more than two million customers who have placed more than four million orders since 2001, according to the company’s chief executive.
“This is a transformative acquisition for DS Healthcare shareholders, that we believe will immediately result in the creation of a consumer-based online powerhouse and will serve as a scalable global platform for growth and an immense selection of products and brands for mass-retail channels,” said Daniel Khesin, CEO, DS Healthcare.
In other news, DS Healthcare Group appointed Manuel Gonzalez, a former vice president of sales for the Procter & Gamble Company, as its chief commercial officer.
According to DS Healthcare, in his role at P&G, Gonzalez was responsible for managing an organization with $30 billion in revenue including the entire North American merchandiser sales force of over 3,000 sales representatives for all P&G product categories, including the company’s extensive personal care products portfolio.
Gonzalez has joined the DS Healthcare management team to help rapidly scale sales operations of DS Healthcare’s innovative personal care products due to his extensive experience managing massive retail operations and his knowledge of every significant retail channel in the United States and South America.
“After spending time at DS Healthcare headquarters, I could not be more excited to join the team,” said Gonzalez. “The innovative product development expertise and the many retail opportunities that the company’s existing and future products offer through disruptive technologies is remarkable. The industry is making a shift towards higher performance products and DS Healthcare is a major leap over competitors. Since the team here has figured out the most challenging part —making the world’s most advanced personal care products—the potential here is virtually unlimited.”