Procter & Gamble Acquires DDF Skin Care
Public Company Information:
The Procter & Gamble Company (NYSE: PG) announced today that it has acquired HDS Cosmetics Lab Inc., the company that manufactures and markets Doctor's Dermatologic Formula (DDF) skin care, from North Castle Partners, a private equity firm. The DDF line of products designed for specific skin concerns such as anti-aging, acne, hyperpigmentation and sun protection are sold in specialty retail, department stores and select spas throughout the United States and in several other countries.
"The addition of DDF to our existing portfolio provides us with the ideal opportunity to reach new consumers in new channels," said Paolo DeCesare, President, P&G Global Skincare. "This move also reflects P&G's corporate strategy to focus on skin care as a key growth category."
"When DDF was created in 1991 it was a pioneering brand, one of the first retail skin care lines created by a top dermatologist," DeCesare continued. "Today DDF is a leading dermatologist brand in the retail specialty channel and has a strong following of loyal consumers."
Building on DDF's strong positioning and credentials, P&G expects to infuse the line with a steady stream of innovation, add marketing expertise, and leverage its global reach and go-to-market capability to drive future expansion.
"We created DDF to bring forth the latest technologies, based on medical practices and protocols," said Dr. Howard Sobel, a leading New York dermatologist and founder of DDF. "I'm confident that with P&G's know-how and scale behind it, DDF can grow to reach even more women and men who are looking for professional solutions."
Terms of the transaction were not disclosed.
About North Castle Partners
North Castle Partners is a leading private equity firm focused exclusively on investments in consumer-driven product and service businesses that benefit from "Healthy Living and Aging" trends. North Castle is a hands-on, value- added investor in high-growth, middle market companies in the (i) aesthetics & personal care, (ii) consumer health, (iii) fitness & recreation, (iv) home & leisure and (v) nutrition industries.
North Castle is led by a seasoned group of five partners and supported by eight additional private equity professionals. The North Castle team is further enhanced by eleven proactive operating advisors who bring a wide range of operational and investment capabilities as well as an extensive knowledge base and network. The strength of the North Castle team, combined with our focus and network, is creating significant competitive advantages in building world-class companies. North Castle is headquartered in Greenwich, CT. For more information, visit www.northcastlepartners.com.
About P&G Beauty
P&G Beauty products help make beauty dreams real and grooming enjoyable everyday for millions of women and men worldwide. With more than 100 brands available in nearly 130 countries, P&G Beauty delivered sales of more than $21 billion in fiscal year 2005/06, making it a leading global beauty company.
P&G's successful track record for growing acquired brands includes Pantene(R), Olay(R), Cover Girl(R), Herbal Essences(R), SK-II(R), Wella Professionals(R), and the fragrance licenses for Valentino(R), and Hugo(R). Visit www.pg.com for the latest news and in-depth information about P&G Beauty and its brands.