08.26.21
Crown Laboratories has entered into a definitive agreement with L Catterton to acquire StriVectin. The transaction is expected to close by mid-September and is subject to regulatory approvals and other customary closing conditions. Terms of the transaction were not disclosed.
Upon completion of the transaction, StriVectin’s products will become part of Crown’s new Premium Skincare Division and will operate as a wholly owned subsidiary of Crown Laboratories. StriVectin President Cori Aleardi 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.
“Partnering with StriVectin is an exciting and significant next step in diversifying and scaling our organization,” said Jeff Bedard, CEO of Crown Laboratories. “StriVectin has assembled a truly impressive team, a proven business model, and a premier product portfolio that is beloved by its customers. 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. The addition of StriVectin to Crown’s portfolio enriches our focus on partnering with our customers throughout their lifetime skin health journey.”
Crown’s skin care portfolio includes Crown Aesthetics, maker of SkinPen, an FDA-cleared microneedling device as well as consumer brands PanOxyl acne wash, Sarna topical anti-itch brand, Vita Liberata sunless tanners and Blue Lizard sunscreen.
Crown also owns Blue Lizard sunscreen.
StriVectin, which launched in 2002, will join Vita Liberata, a sunless tanning brand, in the new premium division at Crown, which is based in Johnson City, TN. L Catterton invested in StriVectin in 2009. At the time, StriVectin's retail sales were estimated to be around $100 million annually.
“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,” added Cori Aleardi, president of StriVectin. “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.”
Upon completion of the transaction, StriVectin’s products will become part of Crown’s new Premium Skincare Division and will operate as a wholly owned subsidiary of Crown Laboratories. StriVectin President Cori Aleardi 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.
“Partnering with StriVectin is an exciting and significant next step in diversifying and scaling our organization,” said Jeff Bedard, CEO of Crown Laboratories. “StriVectin has assembled a truly impressive team, a proven business model, and a premier product portfolio that is beloved by its customers. 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. The addition of StriVectin to Crown’s portfolio enriches our focus on partnering with our customers throughout their lifetime skin health journey.”
Crown’s skin care portfolio includes Crown Aesthetics, maker of SkinPen, an FDA-cleared microneedling device as well as consumer brands PanOxyl acne wash, Sarna topical anti-itch brand, Vita Liberata sunless tanners and Blue Lizard sunscreen.
Crown also owns Blue Lizard sunscreen.
StriVectin, which launched in 2002, will join Vita Liberata, a sunless tanning brand, in the new premium division at Crown, which is based in Johnson City, TN. L Catterton invested in StriVectin in 2009. At the time, StriVectin's retail sales were estimated to be around $100 million annually.
“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,” added Cori Aleardi, president of StriVectin. “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.”
