C.B. Fleet Acquires Major Skin Care Brand in U.K.
March 2, 2004 — C.B. Fleet, a rapidly growing specialty pharmaceutical and consumer products company, has significantly expanded its presence in the U.K. skin care market with the acquisition of T-Zone®. The new brand will be managed by Fleet's U.K.-based subsidiary, De Witt, whose Witch skin care line is already the #3 skin care brand in the U.K.. The addition of T-Zone, a tea tree oil-based product line, will firmly establish De Witt as one of the leading players in the U.K. skin care market.
Explains Doug Bellaire, President of C.B. Fleet, "This acquisition is evidence of our commitment to global expansion in key regions and market segments where we can leverage our core competencies." C.B. Fleet also has significant global businesses in the gastrointestinal and feminine care categories.
Jeff Rowan, Senior Vice President of Global Marketing for C.B. Fleet, comments, "The acquisition of T-Zone is a major step in our long-term strategy to participate in the growing skin care sector throughout much of Europe. Our corporate strategy is focused on the international expansion of high-potential brands such as T-Zone, and the development of the appropriate global infrastructure to support their growth."
The T-Zone acquisition is one of a number of moves planned in 2004 to strengthen the company's market position and product portfolio. Product development is planned for some of the company's existing brands, while further acquisitions are possible should the right opportunities occur.
Paul Holbrook, Managing Director of De Witt, states, "This new acquisition will make De Witt the third largest player in the U.K. medicated skin care market and will also offer us further potential to expand in other European markets. T-Zone's use of natural ingredients, along with its problem skin 'solution' positioning, compliments Witch's skin refreshment branding and extends the reach of our portfolio."
C.B. Fleet is a global manufacturer and marketer of specialty pharmaceutical and consumer products headquartered in Lynchburg, Virginia. De Witt is located near Manchester, England.