"When DDF was created in 1991 it was a pioneering brand, one of the first retail skin care lines created by a top dermatologist"
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)
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
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
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