StriVectin to be acquired by Crown Laboratories

 

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.  

• Crown Laboratories, Inc. is a privately held skin care company.
• Headquarters location: Johnson City, TN
• Founded: 2000
• crownlaboratories.com

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.

 

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. 

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.