CHICAGO, April 13 /PRNewswire/ -- Linden, LLC, a healthcare and life science private equity investment boutique, announced today that it has acquired Ranir/DCP Corporation, a leading private-label and contract manufacturer of consumer oral care products headquartered in Grand Rapids, Michigan. Terms of the transaction were not disclosed.
Ranir, which has been renamed Ranir LLC, manufactures and markets tooth- whitening strips and gels, toothbrushes, dental floss, travel kits and accessories for customers across North America. Its products include both national brand equivalents (NBE), non-NBE private-label items and exclusive store brands, which are sold at leading retailers in North America and abroad. Ranir also does contract manufacturing for well-known oral care companies. Fueled by the increased emphasis on both preventive and cosmetic dental care, favorable demographics and the connection between oral health and overall wellness, Ranir competes in an attractive market. The company’s sales growth has consistently outpaced the industry average.
“We are pleased to be participating in growing segments of the $17 billion global oral-care market,” said Eric C. Larson, founder and managing director of Linden. “Ranir combines innovative, high-quality products with excellent customer service demanded by leading retailers. We expect continued growth from the ongoing shift of cosmetic dental products from the professional market to the consumer market, most notably for whitening products, steady increases in sales of private-label store brands and potential expansion beyond our current geographic markets.”
Current management, including Chief Executive Officer Christine Henisee and Chief Financial Officer Joe Townshend, will continue to lead Ranir, and the former owners will maintain a minority investment in the company. Claudie Williams, formerly of Johnson & Johnson and executive vice president of a diversified holding company with investments in healthcare, joins the company as vice president of marketing and business development. No layoffs among its work force of approximately 250 persons are planned, and Ranir intends to add capabilities to help facilitate growth. Mr. Larson, Tony Davis and Mary Beth Pieprzyca of Linden will join the board of directors.
“Teaming with Linden will accelerate our growth through continued focus on superior quality, customer service and category expertise coupled with enhanced new product development capabilities, increased manufacturing efficiencies and streamlined business processes and systems throughout our company,” said Henisee, who joined Ranir in 2002 and has more than 30 years of consumer products experience. “We will further develop a world-class private label and contract manufacturing business that markets products that retailers are proud to have their name on and consumers know the value in buying.”
Henisee noted that sales of tooth-stain removers and whiteners have increased significantly since their introduction into the consumer market. Ranir is the only major private-label competitor to Crest Whitestrips in this category, Henisee said. Continuing introduction of new categories and products by brand companies provides additional opportunities for private- label companies.
Linden is a private equity investment and management resource firm and a leading provider of the management, science, governance and capital resources required to grow healthcare and life science companies. In addition to investing and growing independent businesses, Linden’s expertise is also in transforming corporate-controlled, non-core operations into entrepreneurial, independent businesses. Linden’s principals have backgrounds in investment banking, pharmaceuticals, medical devices, biotechnology, consulting and academia. To pursue large healthcare and life science buyout opportunities, the company has an alliance with Madison Dearborn Partners. For additional information about Linden, please see http://www.lindenllc.com/ .
Linden, LLC
CONTACT: Tony Davis of Linden, LLC, +1-312-261-5287, or Fred Nachman forLinden, LLC, +1-312-867-1771, or Joe Townshend of Ranir, LLC,+1-616-698-8880 x120