Crown Laboratories and Revance Announce $924 Million Merger

Crown Laboratories and Revance Therapeutics are set to merge, creating a major player in aesthetics and skincare. This merger, valued at $924 million, will combine their product lines, including DAXXIFY® and the RHA® Collection. The deal is expected to close by year-end, making Revance a wholly-owned subsidiary of Crown.

The merger will unify their innovative skin care and aesthetic products, promising a broader global reach and enhanced product development. Crown will acquire Revance at $6.66 per share, a premium of 89% over its recent market price.

Financial Summary

Revance Therapeutics shareholders will receive $924 million, or $6.66 per share. The acquisition price represents an 89% premium over Revance’s recent market price and a 111% premium over its 60-day average price.

The merger agreement is Subject to stockholder approval, regulatory clearances, and customary closing conditions. Crown Laboratories anticipates completing the merger by the end of 2024. Revance’s stock will be delisted from Nasdaq upon completion.

Strategic Benefits

By combining their portfolios, Crown Laboratories and Revance Therapeutics will create a unified collection of high-growth brands, offering a more comprehensive range of products. This merger will also expand their distribution network, covering medical, retail, and e-commerce channels, thereby increasing market reach. Moreover, the combined entity will enhance its global commercialization capabilities, leveraging a broader infrastructure and expertise to drive innovation and growth in the aesthetics and skincare markets.