“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.
Lumley added, “Remington’s® new consumables business will focus on developing transformational new beauty solutions previously only available in dermatological clinics, using dedicated marketing and strategic resources to build awareness, brand equity, and generate sales. We are excited about this opportunity to develop an effective, in-home, consumables-based range of effective solutions for consumers.”
“Shaser Bioscience is excited to be joining the Spectrum Brands family to drive the development of technology that can, for the first time, provide consumers with effective skin care solutions at home,” said Daniel Roth, CEO of Shaser Bioscience, Inc. “Shaser’s aesthetic technology is based on the same proven scientific principles used in dermatology clinics to provide exciting solutions to the skin care challenges facing today’s consumers. Shaser’s world-class team of physicians, researchers and regulatory experts are very enthusiastic about forming this long-term, strategic partnership with Spectrum Brands to develop and launch effective skin care solutions based on our unique home use, aesthetic energy-based technology.”
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