Langer/Twincraft
This article was originally published in The Rose Sheet
Executive Summary
Medical and therapeutic skincare company Langer will expand into additional personal care categories with its acquisition of private label manufacturer Twincraft early next year, firm states in Nov. 14 release. Valued at $26.7 mil., the transaction is expected to close in the first quarter of 2007, Langer says. The acquisition of Twincraft, producer of specialty bar soap, will bring Langer into the health and beauty, amenities, mass and direct marketing channels, firm notes. The soap manufacturer grossed revenues of approximately $27.1 mil. for fiscal year 2005. For the nine months ended Sept. 30, the firm reported revenues of $20.7 mil. Twincraft President and CEO Peter Asch is expected to join Langer's board of directors. The firm employs approximately 200 people in its Winooski and Essex Junction, Vt., locations. The business is expected to remain in Vermont...
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