Supplier News Breaks Archives
DermaSilk brand goes on selling block
February 10th, 2014
NEW YORK – The DermaSilk anti-aging and skin care product brand is up for sale.
Tiger Group, an asset valuation, advisory and disposition services firm, said Monday that it has begun accepting sealed bid offers for intellectual property, inventory and other assets of Biotech International Corp., including the Glastonbury, Conn.-based company's flagship DermaSilk brand.
The sale is being conducted on behalf of First Niagara Bank NA, the secured creditor for Biotech International, which according to published reports dissolved at the end of 2013.
DermaSilk products are carried by such retailers as Walgreens, CVS/pharmacy, Rite Aid, Walmart, Kroger and Sear.
Assets being sold include popular product lines and trademarks for DermaSilk, formulas and customer lists, according to Tiger Group. More than $1 million of finished goods will also be available for sale, along with thousands of units of packaging and displays. Bids will be accepted through Feb. 19.
Tiger Group noted that DermaSilk targets the $2.2 billion U.S. anti-aging market, one of the fastest-growing sectors in the $96.5 billion global skin care market.
Successful lines up for bid include DermaSilk 5-Minute Face Lift, 90-Second Eye Lift, Flawless, Ultimate Face Lift, DermaSilk Triple-Sculpting cream, DermaSilk 30-Second Neck Lift, and DermaSilk 1-Minute Collagen Lift. The products retail in the $19.95 to $39.95 range.
"Health and beauty companies, or other businesses with skin care and cosmetic lines, will be interested in this unique opportunity for a brand that ranked sixth domestically in a category that includes such names as Oil of Olay, L'Oreal and Neutrogena," stated Andy Babcock, Tiger Group's director of inventory strategies. "Demand for DermaSilk continues to be robust."