Supplier News Breaks
Assets of Biotech International for sale
February 10th, 2014
NEW YORK – Tiger Group is accepting sealed bid offers for the intellectual property, inventory and other assets of Biotech International Corp., including its DermaSilk brand of antiaging skin care products.
The sale is being conducted on behalf of First Niagara Bank NA, the secured creditor for Biotech, based in Glastonbury, Conn.
The assets include the product lines and trademarks for DermaSilk, as well as product formulas and customer lists. More than $1 million worth of finished goods are also for sale, as well as thousands of units of packaging and displays. Sealed bids will be accepted through 5 p.m. EST on February 19.
"Health and beauty companies or other businesses with skin care and cosmetic lines, will be interested in this unique opportunity for a brand that ranked sixth domestically in its category," says Andy Babcock, director of inventory strategies for Tiger Group. "Demand for DermaSilk continues to be robust."
Interested parties can obtain further information on the offering at http://auctions.tigergroupllc.com/cgi-bin/mndetails.cgi?tigergrp105.
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