Spectrum Brands Holdings acquired Shaser Bioscience, Inc. for $50,000,000, a transaction completed in November 2012, structured as Acquisition of a 56 percent controlling interest for cash.
Shaser Bioscience, Inc. operates in Global Batteries & Personal Care (Remington personal-care / home-use beauty devices). Spectrum Brands Holdings acquired a controlling 56 percent interest in Shaser Bioscience, Inc., a privately held developer of energy-based aesthetic dermatological technology for home-use hair-removal and skin-care devices. The transaction gave Spectrum exclusive rights to Shaser's full range of technology platforms and built on a 2008 commercial partnership behind the Remington i-LIGHT Pro light-based hair-removal system, establishing Spectrum's Remington personal-care division as a leader in the large, fast-growing worldwide beauty and skin-care device market.
Significantly enhanced Spectrum's position in the large, fast-growing and high-margin global market for home-use dermatology and hair-removal devices, and accelerated the company's expansion into a recurring, high-margin consumables business.
This transaction is consistent with Spectrum Brands' strategy to grow its existing business lines through strategically and financially attractive bolt-on acquisitions in adjacent spaces.Dave Lumley, Chief Executive Officer, Spectrum Brands Holdings
Advisory firms were not disclosed for this transaction.