P&G To Buy DDF from Private Equity Firm

2007-01-22 | 04:16

Procter & Gamble wants in on the fast-growing professional skin care market. The company has agreed to acquire the HDS Cosmetics Labs, the manufacturer of Doctor's Dermatologic Formula from North Castle Partners, a private equity firm, for an undisclosed price.

North Castle invested in Yonkers, NY-based HDS Cosmetics Lab and its DDF brand in 2004, after an almost three year relationship with the company’s founders.  DDF was created in 1991 by a renowned New York City dermatologist, Dr. Howard Sobel.  Today DDF is recognized as the first prestige skin care company to address skin care based on skin care concerns, such as anti-aging, acne, hyperpigmentation and sun protection. DDF is sold in specialty retail and department stores and select spas throughout the United States and in several other countries. 

Richard D. Gersten, a North Castle Managing Director and developer of the firm's Aesthetics and Personal Care business, said, “We are proud of our successful partnership with the DDF management team and the founders of the brand.  As a focused fund, North Castle prides itself upon identifying high-growth, niche segments within larger industries, and partnering with promising management teams to build great companies.  HDS Cosmetics Lab is further demonstration of the value that can be created from such an investment model. We believe the DDF brand is well positioned to capitalize on the wide range of opportunities the company will have as part of Procter & Gamble.”