Crown Laboratories, Inc. and Hildred Capital Partners, LLC’s Acquisition of a portfolio of GlaxoSmithKline Brands

Lowenstein Sandler, LLP acted as legal advisor to Crown Laboratories and Hildred, while Hayfin Capital Management, LLP provided debt financing in connection with the transaction. Crosstree Capital Partners New York, LLC and Latham & Watkins (London) LLP served as financial and legal advisors, respectively, to GlaxoSmithKline.

Crown Laboratories, Inc., a leading, fully integrated skin care company and Hildred Capital Partners LLC portfolio company, acquired North American distribution rights of five (5) OTC consumer brands from GlaxoSmithKline (“GSK”).

GSK’s consumer healthcare portfolio has long been regarded as high quality, safe and effective, maintaining a quality image and loyal base of consumers. OTC medications allow practitioners and their patients the ability to access therapeutic products while reducing the burden of prescription drug costs on the healthcare system. The products expand Crown Laboratories’ consumer portfolio by adding #1 in category brands that treat multiple conditions. The acquired portfolio includes:

PanOxyl®: #1 Dermatologist recommended daily acne wash

Sarna®: #1 Dermatology recommended anti-itch lotion

Zeasorb®: #1 Dermatologist recommended anti-fungal and prevention product

Desenex®: Anti-fungal powder for athlete’s foot

Mineral Ice®: Leading pain-relieving gel

The Lowenstein team included Herschel S. Weinstein (Picture), Sam E. Khan, Mitchell McDonald, Sunita Patel, James C. Shehan, Matthew P. Hintz, Sofia Kopelevich, Michael A. Buxbaum, Nicholas Gonski, Matthew Tippy, Jeffrey M. Shapiro, and Jack Sidorov.

Involved fees earner: Herschel Weinstein – Lowenstein Sandler LLP; Sam Khan – Lowenstein Sandler LLP; Mitchell McDonald – Lowenstein Sandler LLP; Sunita Patel – Lowenstein Sandler LLP; Matthew Tippy – Lowenstein Sandler LLP; Jeffrey Shapiro – Lowenstein Sandler LLP; James Shehan – Lowenstein Sandler LLP; Matthew Hintz – Lowenstein Sandler LLP; Sofia Kopelevich – Lowenstein Sandler LLP; Michael Buxbaum – Lowenstein Sandler LLP; Nicholas Gonski – Lowenstein Sandler LLP; Jack Sidorov – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: Crown Laboratories, Inc.; Hildred Capital Partners LLC;

Author: Ambrogio Visconti