Monday November 12th, 2012 - 10:33AM
In a $50 million cash deal, Spectrum Brands Holdings, Inc. has announced that it acquired a 56% interest in Shaser Bioscience, Inc., a privately held developer of energy-based, aesthetic dermatological technology for home use devices. The transaction provides Spectrum with exclusive rights to Shaser's technology platforms and establishes its Remington personal care division as a leader in a large and rapidly growing segment of the worldwide beauty and skin care retail device market, the company said.
The deal builds on a commercial Spectrum/Shaser partnership established in 2008. Through the partnership, Spectrum noted, the companies jointly developed and marketed the Remington i-LIGHT Pro light-based hair removal system. Spectrum stated that it will operate Shaser as part of the Remington personal care division.
Spectrum said it is creating a new consumables business within Remington that will focus on energy-based aesthetic dermatology devices and companion products using Shaser Bioscience technology to address unwanted signs of aging, acne and blemishes, spider veins and related conditions.