Spectrum Brands acquires majority stakeholding in Shaser Bioscience

Consumer products company Spectrum Brands Holdings has announced that it has acquired 56% stake in Shaser Bioscience for $50m in cash.

Shaser Bioscience is a US-based privately held developer of energy-based, aesthetic dermatological technology for home use devices.

With the new transaction, Spectrum Brands will hold the exclusive rights to Shaser Bioscience’s entire range of technology platforms and aims to establish Spectrum Brands’ Remington personal care division as a major in large and rapidly growing segments of the global beauty and skin care retail device market.

Developing on an established commercial partnership in 2008, Spectrum Brands and Shaser Bioscience jointly developed and marketed the Remington i-LIGHT Pro light-based hair removal system, which was introduced in Europe in early 2010.

The i-LIGHT Pro is a US Food and Drug Administration (FDA) approved, dermatologist-recommended hair removal system created using Intense Pulsed Light (IPL) technology, which the dermatologists use to achieve professional results at home.

Spectrum Brands is a US-based manufacturer of consumer goods, and the firm under Remington brand manufactures and develops energy-based, companion aesthetic dermatology devices and companion products using Shaser Bioscience technology to address the skin care solutions for conditions, which include unwanted signs of aging, acne and blemishes, spider veins and other retail aesthetic applications to be announced in the future.

The hair removal products market combined with a global retail is estimated at $16.5bn annually, while the worldwide market for home use devices that address these conditions is estimated at more than $50bn annually.