Catterton Partners Acquires Leading Cosmeceutical Brand StriVectin

Mon Jul 13, 2009 3:16pm EDT
 
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Agreement Aimed at Leveraging Chrysallis's Expertise in Marketing, Technology
and Distribution to Extend StriVectin's Global Reach




GREENWICH, Conn., July 13 /PRNewswire/ -- Catterton Partners, one of the
nation's leading consumer-focused private equity firms, today announced that,
through a holding company, it has acquired the StriVectin brand and related
assets from affiliates of Klein-Becker.  Chrysallis, the premier management
team in the beauty and personal care industry, led by Chief Executive Officer
Melisse Shaban and Chief Marketing Officer Jill Scalamandre, will lead the new
company.  The partnership between Catterton and the Chrysallis management team
marks another in a number of successful endeavors between the two groups, the
most notable of which was Frederic Fekkai & Co., which was sold in 2008.

StriVectin is a leader in the global skincare market, which is expected to
reach $58.2 billion by 2012, an increase of 17.6% since 2007.(1) Lauded as the
"stretch-mark cream turned anti-wrinkle phenomenon" since being introduced in
2003, StriVectin is the fastest growing anti-aging brand and one of the top 20
prestige skincare brands in the United States.(2) Its clinically proven
formulations have earned the enthusiasm of millions of consumers and top
honors at the "Les Grands Prix Advantages de la Beaute" (Advantages Grand Prix
of Beauty) in Paris.  Today, the StriVectin line encompasses a range of
anti-aging products with a targeted, problem-solution positioning, including
StriVectin(R) Instant Facial Sculpting Cream, StriVectin-SD(R) Eye Cream,
StriVectin(R) Neck Cream, and StriVectin(R)-WF Instant Deep Wrinkle Filler. 
StriVectin products are sold through leading retailers as well as direct
marketing channels around the world, with the largest presence in the United
States, France and the United Kingdom.

"The skincare market is no longer about aspirational luxury; it's about what
works and in this regard, we see tremendous value in the StriVectin brand,"
said Ms. Shaban.  

"StriVectin's record of profitable growth is a tribute to its customer centric
marketing and targeted formulations, which helped create the cosmeceutical
skincare category.  With this transaction, we intend to build on these
strengths and our own expertise to further enhance StriVectin's product
portfolio and extend its global reach.  We will be looking at new technologies
to strengthen StriVectin's strong clinical positioning, thereby increasing
value to the end consumer," continued Ms. Shaban. 

"The StriVectin brand is well positioned for today's skincare consumer wanting
efficacious, solution-focused skin treatments with proven results," said Ms.
Scalamandre.  "Currently, the brand experiences a loyal customer base that is
highly engaged in the skincare category.  These StriVectin enthusiasts provide
an extraordinary word of mouth advocacy on the brand's authenticity and
product efficacy.  Going forward, we see opportunities to address a wider
range of skincare needs for a more diverse base of consumers in a broader
range of markets."

"We are very proud of what StriVectin has achieved, and are delighted that
with this transaction, StriVectin will be part of a team that has a solid
record of growing and nurturing powerful brands," said Gina Daines, Director
of Marketing for Klein-Becker. 

Highland Consumer Fund invested alongside Catterton Partners in the
transaction.  Terms of the transaction were not disclosed.

(1) Source: Datamonitor, February 12, 2009
(2) Source: NPD Group, April 2009

About Catterton Partners
With more than $2.3 billion under management, Catterton Partners is a leading
private equity firm in the United States focused exclusively on the consumer
industry.  Since its founding in 1990, Catterton has leveraged its investment
capital, strategic and operating skills, and network of industry contacts to
establish one of the strongest investment track records in the consumer
industry.  Catterton invests in all major consumer segments, including Food
and Beverage, Retail and Restaurants, Consumer Products and Services, and
Media and Marketing Services.  Catterton has led investments in companies such
as Breyers Yogurt, Nature's Variety Pet Food, The Worth Collection,
Build-A-Bear Workshop, Cheddar's Restaurants, P.F. Chang's China Bistro, Baja
Fresh Mexican Grill, Frederic Fekkai, Wellness Pet Food, Kettle Foods, Odwalla
and Heartland Recreational Vehicles.  More information about the firm can be
found at http://www.cpequity.com.

About Chrysallis: The Beauty of Evolution
The Chrysallis management team was established to help grow innovative brands
in the health and beauty category.  Chrysallis's successes to date have
included Frederic Fekkai & Co, LLC, a leading luxury salon, hair care brand,
and provider of beauty products, Niadyne, Inc., a company dedicated to the
discovery and development of uniquely efficacious topical products, and the
Canyon Ranch YOUR TRANSFORMATION(TM) collection, a line of luxury skincare
products focused on renewing, repairing and resisting skin damage from the
inside and outside.  Chrysallis is headquartered in New York, New York. 


SOURCE  Catterton Partners

Eric Brielmann, or Dara Silverstein of Joele Frank, Wilkinson Brimmer Katcher,
+1-212-355-4449, for Catterton Partners; Randall Williamson of Chrysallis,
+1-212-363-0934, or rwilliamson@chrysallis.com; Tim Miller, Klein-Becker,
+1-202-292-6977, tmiller@gloverparkgroup.com

 

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