Divine Skin Signs Letter of Intent to Acquire its Mexican Distributor
MIAMI BEACH, Fla., March 22, 2012 /PRNewswire/ — Today Divine Skin Inc., (OTC Bulletin Board: DSKX), a leading developer of cutting-edge biotechnology for hair and skin, announced that it had signed a letter of intent to acquire 100 percent of Divine Skin Laboratories SA de CV in stock. In 2011, the Mexican company represented nearly 10 percent of Divine Skin’s revenue. It has been a distributor of Divine Skin product for more than three years, with sales growing quickly year over year.
Divine Skin CEO Daniel Khesin stated, “I believe this move will not only boost our current revenue but also be a significant asset to Divine Skin’s human resources. We’ve worked with Divine Skin Laboratories SA de CV for many years, and it has proven to be a very strong partner. We value this relationship, and I know that this acquisition will add significant value to both entities.”
In Mexico, Fernando Tamez, CEO of Divine Skin Laboratories SA de CV, said, “I’m thrilled to take a more active role in Divine Skin Inc. I started the distribution of DS Laboratories products three years ago and have seen this market grow into a sizable revenue stream, with enormous continued upside for growth. I think we can continue to double our revenues every year for the next few years. Mexico is a huge market for these advanced products. Divine Skin offers formulas unlike anything else we have in Mexico, and I am looking forward to continuing to expand this business.”
The terms of the agreement will be made public once the transaction is complete. It is scheduled to close in the second quarter of 2012.
About Divine Skin Laboratories SA de CV
Divine Skin Laboratories SA de CV was formed in 2008 in Mexico City. It sells and distributes DS Laboratories products exclusively to a network of physicians throughout Mexico. It has an office and 40 employees in Mexico City.
About Divine Skin
Divine Skin Inc. leads in the development of biotechnology for topical, nutritional, and pharmaceutical therapies. It markets worldwide through online and specialty retailers, cosmetics wholesalers, salons, and medical offices. The fast-growing company went public in 2009.
DS Laboratories, its flagship brand, offers high-performance topical solutions to restore growth and radiance to hair, suppress dandruff and unwanted hair, control acne, improve hygiene, and reduce cellulite and wrinkles. Bioavailability is enhanced through Nanosome encapsulation (www.dslaboratories.com).
The Sigma Skin brand sells through upscale retailers like Neiman Marcus in the United States and Harvey Nichols in the United Kingdom. The topical products address hair loss and other signs of aging (www.sigmaskin.com).
Polaris Research Laboratories makes high-potency minoxidil-based hair-growth formulas (www.polarisresearchlabs.com).
The Pure Guild offers purity with performance: Botanical compounds proven effective in clinical trials are extracted without industrial solvents or damaging heat and are sold through premium retailers (www.thepureguild.com).
Divine Skin Inc.
SOURCE Divine Skin Inc.