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EAST RUTHERFORD, N.J. — CCA Industries Inc. has sold its weight-loss business, marketed under the Mega-T brand, to a group formed by Casla Partners Capital Fund I, LP.
Financial terms of the transaction, announced late Thursday, weren’t disclosed.
CCA’s brand roster encompasses a range of health and beauty aids products, including Plus+White toothpastes and teeth whiteners, Bikini Zone medicated topical and shave gels, Nutra Nail nail care, Scar Zone scar treatment products, Sudden Change anti-aging skin care products, Solar Sense sun care and the analgesic Pain Bust RII.
"The sale of the Mega-T brand represents an important step in strengthening our company’s future performance by enabling us to focus resources behind our five core brands: Bikini Zone, Nutra Nail Treatments, Plus White, Scar Zone and Sudden Change," stated Richard Kornhauser, president and chief executive officer of CCA. "This transaction also relieves the company of a significant financial liability and allows the company to better support its brand advertising program to deliver new sales and profits.
"We believe that Mega-T is in the hands of capable and experienced weight-loss category managers, and we wish them the very best in their future endeavors," Kornhauser added.
Under the sale, Casla received all inventory, trademarks and other intellectual property rights related to the brand
"Casla is excited to add the Mega-T brand to its growing portfolio of investments, an acquisition that builds on the firm’s demonstrated core competency of acquiring, integrating, and growing high equity businesses," commented Jared Rochwerg, a partner of Casla. "Mega-T possesses strong brand equity and consumer awareness, while the efficacy of its products contribute to a healthy and active lifestyle. With the firm’s proven operational and marketing expertise in the space, Casla is the optimal partner to support Mega-T in realizing its growth potential."
