Lowenstein Sandler represented Crown Laboratories, Inc. (Crown Laboratories), a leading, fully integrated specialty pharmaceutical and skin care company, and private investment firm Hildred Capital Partners, LLC (Hildred) in Crown Laboratories’ acquisition of the North American distribution rights of five OTC consumer brands from GlaxoSmithKline plc (GSK) (NYSE: GSK). GSK researches, develops, and manufactures innovative pharmaceutical medicines, vaccines, and consumer health care products.
With this transaction, Crown Laboratories acquires a portfolio of top-rated GSK products, including: PanOxyl®, a leading acne wash; Sarna, an anti-itch lotion; Zeasorb, an anti-fungal prevention product; Desenex®, an anti-fungal powder; and Mineral Ice®, a leading pain-relieving gel. All five brands have a longstanding reputation for quality and effectiveness, and three of them (PanOxyl, Sarna, and Zeasorb) have earned #1 Dermatologist Recommended status through decades of strong support from dermatologists.
The acquisition adds proven, well-recognized brands to Crown Laboratories’ portfolio of OTC products and enhances the breadth and value of the company’s trusted consumer skin care therapies. The deal also reinforces Hildred’s commitment to work with Crown to build a diversified business with high-quality dermatology and skin care products.
Lowenstein Sandler acted as legal advisor to Crown Laboratories and Hildred, while Hayfin Capital Management, LLP provided debt financing in connection with the transaction. The Lowenstein team included Herschel S. Weinstein, Sam E. Khan, Mitchell McDonald, Sunita Patel, James C. Shehan, Matthew P. Hintz, Sofia Kopelevich, Michael A. Buxbaum, Nicholas Gonski, Matthew Tippy, Jeffrey M. Shapiro, and Jack Sidorov.
