An announcement was made today the pioneering and completely integrated skin care company, Crown Laboratories, Inc., that it has taken the possession of the North American rights for the Keri from GlaxoSmithKline and in return has received a worthy investment (equity) from the Greenspring Associates, Inc. Other present investors of equity in the Crown are the Montreux Equity Partner and the Hildred Capital Partner.
By acquiring the Keri from the GlaxoSmithKline, the sixth product which has been acquired by the Crown since the past five months have been marked. Keri has a very ancient as well as market history, which is not only supported by the dermatologists, but also by the healthcare practitioners worldwide. Keri makes an addition to the other various major skin care brands that have a rich heritage to the Crown collection.
The Chief Executive Officer and the President of the Crown, Jeff Bedard passed the following statement: “Acquiring the Keri brand supports Crown’s objective of providing its customers with a broad offering of skin care solutions for every age and skin type. We approach our business with a cradle-to-grave philosophy. Our product portfolio treats, protects and nourishes the skin of all ages. Keri is a welcomed addition to every daily skin care regimen, and we are proud to now have the opportunity to build on the brand’s heritage.”
The Partner of Hildred as well as the Chairman of Crown, David Solomen stated: “We continue to find ways to provide meaningful diversification for our consumer portfolio and enhance our breadth of trusted skin care therapies. Providing value for our customers and investing in products they love is critical. We are committed to doing just that, and we are pleased to have Greenspring on board as a new equity partner with Montreux to continue supporting business development programs that enhance Crown’s consumer healthcare, aesthetic and prescription product lines.”