Crown Labs Makes a Big Bet On Face Aesthetics

Revance Therapeutics Agrees to $924M Buyout by Skincare Giant

Nashville-Based Company to Go Private in Major Deal

Revance Therapeutics, the maker of the popular anti-wrinkle injectable Daxxify, has agreed to be acquired by skincare company Crown Laboratories in a deal valued at $924 million. The acquisition, which was announced on Monday, is expected to close in the fourth quarter of 2024.

Crown Laboratories is a privately held global skincare company that owns a portfolio of brands including Aveeno, Cetaphil, and EltaMD. The company has been expanding its presence in the medical aesthetics market in recent years, and the acquisition of Revance Therapeutics is a major step in that direction.

Revance Therapeutics is a clinical-stage biopharmaceutical company that develops and commercializes neuromodulators for aesthetic and therapeutic uses. Daxxify, the company's lead product, is an injectable treatment for moderate to severe frown lines.

The acquisition of Revance Therapeutics will give Crown Laboratories a strong foothold in the rapidly growing market for neuromodulators. The global market for neuromodulators is expected to reach $15.7 billion by 2028, according to Grand View Research.

The deal is also a major win for Revance Therapeutics, which has been struggling financially in recent years. The company's stock price has fallen by more than 50% since its initial public offering in 2021.

The acquisition is expected to close in the fourth quarter of 2024, subject to regulatory approval and other customary closing conditions.

Benefits of the Acquisition for Crown Laboratories

• Gain access to Daxxify, a leading neuromodulator for aesthetic use
• Expand its presence in the medical aesthetics market
• Leverage Revance Therapeutics' expertise in neuromodulator development

Benefits of the Acquisition for Revance Therapeutics

• Receive a significant cash infusion
• Gain access to Crown Laboratories' global distribution network
• Benefit from Crown Laboratories' expertise in skincare