Murad, Inc. announced today that it has completed the acquisition of its long-term distribution partner in the United Kingdom. The acquisition provides Murad with an opportunity to directly manage its rapidly growing business in prestige and professional channels in the UK and gives this major player in premium skincare a strategic foothold for its planned expansion of existing operations in Europe.
The acquisition coincides with the celebration of Murad's 25th anniversary this year and serves as a testament to the company's success and vision for accelerated expansion of its international distribution footprint.
"When we began in 1989, our most intense efforts were focused on opportunities to expand our sales close to home with North America as the major market for high-performance skincare products. Twenty-five years later, the entire world is eager to experience the results our brand delivers," said Richard Murad, Global General Manager of Murad, Inc. "While we have a presence in more than 40 markets worldwide, with the acquisition of a UK distributor as our European hub and the planned acquisition of a Hong Kong distributor who can provide us with a robust presence in Asia, we are making a major strategic investment that will dramatically expand our ability to reach consumers who are eager to transform their skin with Murad skincare."
Murad will continue its on-going commitment to valued employees and all 60 employees currently working for the distributor will be joining the Murad family as employees. "We are eager to work directly with each of them and welcome them to our family," said Richard Murad.
In addition to this acquisition, Murad will be increasing its overall investment in the UK to fund strategic expansion in established prestige channels, which include John Lewis, Debenhams, House of Fraser, Urban Retreat at Harrods, murad.co.uk and select professional doors. In 2013 and 2014, Murad began rolling out its shop-within-a-shop model in the UK. These Murad environments are the full expression of the Murad concept, leveraging Murad's doctor-brand heritage with a proven service model that utilizes proprietary diagnostic software that emulates a virtual consultation with its namesake doctor. With eight doors at present, Murad is targeting an additional 10 locations by the close of 2015.
Skadden, Arps, Slate, Meagher Flom LLP acted as counsel to Murad in this transaction.
ABOUT MURAD, INC.
Murad was founded in 1989 by Dr. Howard Murad, a board-certified dermatologist, trained pharmacist and Associate Professor at the UCLA Geffen School of Medicine. Murad offers people a path to youthful, good health through science-based, clinically proven skincare and healthcare products that have been developed as part of Dr. Murad's Inclusive Health® system of care. With a full range of skin-condition-specific, high-performance products for home and spa-backed by 19 unique patents for advancing the science of skin health and a 30-year legacy of research and clinical testing-millions of people look to Murad with confidence for products, services and tools to help them look, live and feel Better Every Day®.
Murad is used and recommended by over 30,000 professionals all across the globe and is sold in more than 40 countries.
For more information, go to Murad.com, Facebook.com/murad or @MuradCares on Twitter.
Contacts:
Murad, Inc.
Brenna Israel, 310-726-3335
bisrael@murad.com
