SkinMedica Acquires Leading Professional Mineral Makeup Company Colorescience
CARLSBAD, Calif., Jan. 9, 2012 /PRNewswire/ -- SkinMedica, Inc., the fastest growing professional skin care company in the U.S., today announced it has acquired Colorescience, a leading, science-based mineral makeup company in a merger transaction. Colorescience is widely adopted in physician-based aesthetics practices and highly regarded among dermatologists for color correction, sun protection and comfortable, post-procedure coverage. Colorescience was founded by Diane Ranger, creator of the mineral makeup category.
Josie Juncal will lead the new Colorescience subsidiary as VP, New Commercial Operations. Ms. Juncal has more than 10 years of experience in sales, sales management, marketing and education. During her tenure at SkinMedica, Ms. Juncal has held lead roles in product development, marketing, public relations, and education. She holds a Bachelor's degree in Psychology from UC Irvine and a Master's degree in Industrial Organizational Psychology from Elmhurst College.
"Mineral makeup has been a priority expansion target for us for some time. It is especially gratifying to combine with Colorescience, as their product line is based in science and trusted by our physician customers," said Mary Fisher, CEO of SkinMedica. "Josie has very strong relationships with the clinical leaders in medical aesthetics and a proven track record for driving growth. I am confident the outstanding team at Colorescience will deliver further impressive results under her leadership."
"We are excited to add these highly complementary product offerings to expand our presence in the physician channel," said Ted Schwarz, SkinMedica President. "With Colorescience, we can now offer our physician customers three categories of patient care – skin care, non-surgical procedures, and now mineral makeup – which will further deepen our relationships with our customers and their patients by enhancing outcomes with immediate results."
Colorescience recently launched Colorescience PRO, its high-performance line of cosmetics created to remedy and camouflage specific skin concerns while protecting from the damaging effects of the sun. These dermatologist-recommended formulations can be layered and blended together to achieve an instant, flawless, and beautiful appearance. Diane Ranger, creator of the mineral makeup concept, also founded Bare Escentuals, the first makeup of its kind. Ms. Ranger's concept revolutionized the cosmetics industry and popularized the notion that "looking good can be good for your skin" and that it is now possible for consumers to have "makeup that does more."
"Each Colorescience product has been carefully formulated to work together in achieving the best results. It is with that same thoughtful consideration of synergy and results, that we have chosen to merge with SkinMedica," said Diane Ranger, founder of Colorescience. "Our shared values and commitment to creating advanced products for the Physician channel make this an exciting partnership."
In 2011, SkinMedica was again named Fastest Growing Professional Skin Care Company in the U.S. and received several prestigious product awards. In addition, the company expanded its sales force, increased its educational programs and licensed several new technologies.
"With their extraordinary collection of innovative products and unparalleled management team, SkinMedica was the ideal choice to take Colorescience to the next level," shared David Baram of VMG Partners. "Under SkinMedica's leadership, Colorescience is now positioned to become the leading mineral makeup brand in the doctor and spa channel."
Financial terms of the transaction were not disclosed.
SkinMedica, Inc. is focused on developing, acquiring and commercializing products that improve the appearance of skin. The Company markets and sells to physicians, with a focus on aesthetics, both prescription and non-prescription skin care products. The Company's full line of aesthetic skin care products includes the revolutionary TNS Essential Serum™ and hallmark TNS Recovery Complex®. The formulations in the Company's clinical skin care collection enhance skin appearance, reduce signs of aging and provide other skin care benefits.
SkinMedica's primary prescription product is VANIQA® (eflornithine hydrochloride) Cream, 13.9%, the only FDA-approved prescription product for the reduction of unwanted facial hair in women.
SkinMedica is based in Carlsbad, California. For more information, visit: www.skinmedica.com.
TNS Recovery Complex®, VANIQA®, and SkinMedica®, are registered trademarks of SkinMedica, Inc and affiliates.
About Colorescience Pro
Experience makeup that does more. Colorescience Pro's high-performance cosmetics were created to remedy and camouflage specific skin concerns and protect skin from the damaging effects of the sun and environment. Its dermatologist recommended formulations blend and layer together to achieve an instant and easy flawless face. Colorescience Pro's luxury aesthetic makeup line is sold in the medical, spa and aesthetician channel.
About VMG Partners
VMG Partners is a private equity investment firm with an exclusive focus on acquiring highly branded consumer products companies in the lower middle market. The firm's defined set of attractive target industries include lifestyle, wellness, food/beverage, personal care, pet and leisure. The firm is led by a seasoned group of partners who have worked together over many years and whose complementary operating, marketing, and investing skills help to source proprietary transactions and enhance the value of the brands they acquire. The firm currently has $700 million of committed equity capital. VMG Partners is headquartered in San Francisco and Los Angeles.
SOURCE SkinMedica, Inc.
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