Just last month Kramer Laboratories was itself acquired, by Avista Capital Partners (in partnership with Dana Holdings). And today’s Nizoral deal is a first move by the company’s new leadership to transition Kramer Laboratories into a cross-category OTC consumer healthcare platform.
Touching upon Kramer Laboratories’ strengths and growth potential David Burgstahler, president and co-managing partner of Avista, said this in a press release when the Avista deal was announced in early May: “We are excited to welcome Kramer to our healthcare portfolio. The Company has a strong foundation, with well-established brands, national distribution and an experienced management team. We look forward to working with the Kramer team and leveraging Avista's expertise in the healthcare sector to support the Company's future development and expansion.”
Brand recognition
Nizoral is an anti-dandruff shampoo brand sold throughout the Americas region and previously owned by Janssen Pharmaceutica NV of J&J.
The product, formulated with 1% ketoconazole, is currently sold as retailers including Target, CVS, Walgreens, Walmart, RiteAid, jet, and Amazon.
“We are delighted to add Nizoral, an iconic OTC brand, to the Kramer portfolio,” says Kramer CEO Rick Kornhauser, in a media release. And he goes on to highlight how brand reputation bolsters Nozoral’s value: “With over a 25 year history, Nizoral is one of the most widely-recognized and highly-trusted brands in therapeutic hair care. This acquisition also significantly enhances our financial profile, adding meaningful scale, growth and profitability to our company. We look forward to building upon Nizoral's strong brand heritage and continuing to grow the brand through investment and brand support.”
Wellness boom
As consumer expectations about beauty and personal care broaden further to include wellness, there’s an opportunity for OTC wellness products.
In this regard, the Nizoral deal is pivotal for Kramer, moving it beyond foot care and cough care and squarely into the personal care space. “This is a transformative acquisition for Kramer, one that not only adds an exceptional brand to the portfolio, but also establishes Kramer as a leading OTC consumer healthcare platform of scale,” affirms Burgstahler in today’s media release.
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Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.