“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,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “Our majority interest in Shaser accelerates our objective to expand our high margin consumables business, builds on our recent product-line expansion into women’s hair accessories, and allows us to drive revenue growth by increasing our access to a huge global market in aesthetic dermatology products and hair removal.”The investment marks a major new initiative by Spectrum Brands’ Remington® personal care division to develop and market transformational products that greatly enhance the lives of consumers and build upon its already rich heritage of providing consumers with outstanding value. Employing the same energy-based, FDA-cleared technology as i-LIGHT™ Pro and used by dermatologists will enable Spectrum Brands and its Remington® personal care division to be a leading brand behind unique new beauty and skin care solutions consumers can use at home.
Spectrum Brands Holdings Acquires Majority Interest In Skin Care Technology Leader Shaser Bioscience, Inc.
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