Kramer Laboratories has acquired Nizoral, an anti-dandruff shampoo brand sold in North America and Latin America, from Janssen Pharmaceutica, a unit of Johnson & Johnson.
Avista Capital Partners partnered with Dana Holdings to acquire Kramer Laboratories, a seller of over-the-counter (OTC) foot care and specialty cough products, in May 2018.
Kramer’s product portfolio includes foot care brands such as The Original Fungi-Nail Toe & Foot, used to treat toe and foot fungus; HC Max, used to treat Athlete’s Foot; and Safetussin, used to relieve coughs caused by the common cold. The company’s products are sold in over 60,000 stores nationwide, including major drug, food and mass merchandiser outlets. Kramer Laboratories, led by CEO Rick Kornhauser, was founded in 1983 and is headquartered in Coral Gables, FL (www.kramerlabs.com).
“We are delighted to add Nizoral, an iconic OTC brand, to the Kramer portfolio,” said Mr. Kornhauser. “With over a 25-year history, Nizoral is one of the most widely-recognized and highly-trusted brands in therapeutic hair care. This acquisition also significantly enhances our financial profile, adding meaningful scale, growth and profitability to our company. We look forward to building upon Nizoral’s strong brand heritage and continuing to grow the brand through investment and brand support.”
“This is a transformative acquisition for Kramer, one that not only adds an exceptional brand to the portfolio, but also establishes Kramer as a leading OTC consumer healthcare platform of scale,” said David Burgstahler, President and Co-Managing Partner of Avista. “We are excited about Kramer’s future prospects and are committed to supporting the company’s continued development and expansion.”
Avista, with over $6 billion of capital under management, makes control or influential minority investments in growth-oriented healthcare businesses with a specific interest in pharmaceuticals, medical devices, outsourced pharmaceutical services, distribution, and consumer-driven healthcare. The firm was founded in 2005 and is based in New York (www.avistacap.com).
Dana Holdings, Avista’s co-investor in Kramer, is an independent sponsor that makes minority and control investments in companies active in the consumer healthcare sector. The firm was founded in 2004 and is based in Princeton, NJ.
© 2018 Private Equity Professional | June 27, 2018
