Crown Laboratories and Revance to Merge to Create Skincare and Beauty Giant

Crown Laboratories, Inc. and Revance Therapeutics, Inc. are set to merge into a $924 million business. The move will combine skincare and beauty expertise, bringing together brands such as Daxxify (toxins), RHA Collection (fillers), SkinPen (microneedling), PanOxyl (acne), Blue Lizard (sunscreen), and StriVectin (anti-aging).

The merger will be executed by Crown acquiring all outstanding common shares of Revance for $6.66 per share in cash. Revance will then be fully owned by Crown and Revance stock will no longer be publicly traded on the Nasdaq.

The combined organization will reportedly reach approximately 10,000 healthcare professionals, mass retailers, specialty retailers, club retailers, and e-commerce channels. In addition, Crown and Revance will be able to leverage integrated manufacturing operations to innovate and develop new products across the organization.

Jeff Bedard, Founder and CEO of Crown, said, "This is an important step in Crown's vision to become a fully integrated global beauty and skin care company, providing innovative solutions to physicians, patients and consumers in the extremely dynamic beauty and skin care markets. Revance has an impressive track record of developing innovative beauty products that will complement Crown's innovative skin care product line. As a combined company, we have the opportunity to build a comprehensive portfolio of high-growth products for all life stages, and we will be committed to investing in education, training and practice support for beauty providers across the United States."

Mark J. Foley, President and CEO of Revance, said, "Over the past few years, Revance has brought innovative beauty and therapeutic products to market that have enhanced the patient and physician experience. We are excited about this transaction and are pleased to join forces with Crown Laboratories, which will allow us to expand our provider network and provide us with a broader product portfolio. We also believe that this combination will deliver significant value to our shareholders. Crown shares our commitment to innovation and scale and will help us accelerate our growth. Scale and product breadth are important factors in the markets in which we compete, and by combining with Crown, we will be able to offer our customers even more compelling products and services while benefiting from the combined strength of our collective commercial organizations."