Tiger Group’s Remarketing Services Division is now accepting sealed bid offers for intellectual property, inventory and other assets of Biotech International Corporation, including its flagship DermaSilk brand, a line of anti-aging and skin care products. The sale is being conducted on behalf of First Niagara Bank NA, the secured creditor for Glastonbury, Connecticut-based Biotech International. DermaSilk’s products are carried by such retailers as CVS, Walgreens, Walmart, Rite Aid, Sears and Kroger.
Assets being sold include product lines and trademarks for DermaSilk, formulas and customer lists. More than $1 million of finished goods will also be available for sale, along with thousands of units of packaging and displays. The assets are being offered for sale on a turnkey basis or in any combination. Sealed bids will be accepted through 5:00 pm EST, February 19.
DermaSilk targets the $2.2 billion U.S. anti-aging skin care market. Successful lines up for bid include DermaSilk 5 Minute Face Lift, 90 Second Eye Lift, Flawless, Ultimate Face Lift, DermaSilk Triple-Sculpting cream, DermaSilk 30 Second Neck Lift, and DermaSilk 1 Minute Collagen Lift. The products retail in the $19.95 to $39.95 range.
“Health and beauty companies, or other businesses with skin care and cosmetic lines, will be interested in this unique opportunity for a brand that ranked sixth domestically in a category that includes such names as Oil of Olay, L’Oréal and Neutrogena,” said Andy Babcock, Tiger Group’s director of inventory strategies. “Demand for DermaSilk continues to be robust.”