Richards Packaging Income Fund announces acquisition of DermapenWorld®
TORONTO, June 2, 2025 /CNW/ - Richards Packaging Income Fund (TSX: RPI.UN) (the "Fund") announces today a strategic acquisition to add to its healthcare line up.
The Fund, through its subsidiaries Richards Health Group Pte. Ltd. and Richards Packaging Holdings US Inc., has acquired all of the outstanding shares and assets of the DermapenWorld Group of Companies ("DermapenWorld®"), an Australian based leading global provider of microneedling devices and dermatological cosmetics. The purchase price of US$40.0 million ($55.0 million) was financed by a US$36.3 million ($49.9 million) draw down on a new term credit facility and a US$3.7 million ($5.1 million) holdback from the vendor. This purchase price is subject to additional consideration contingent on DermapenWorld's future earnings through 2025 and 2026.
"After years acting as the Canadian distributor for the DermapenWorld® product line, we are pleased to be fully joining forces within the Richards Healthcare portfolio. The global strength of the DermapenWorld® brand and product line is complemented by our organically developed Luvo line and the recently acquired WorldPRP®. We look forward to working together with the team in Sydney and around the world to grow together in the coming years." commented John Glynn, CEO of Richards Packaging
NewPoint Capital Partners acted as M&A advisor to the Fund.
About Richards Packaging Income Fund
The Fund owns Richards Packaging Inc. ("Richards Packaging"), which since 1912 has served a wide customer base throughout North America comprised of over 18,000 regional food, beverage, healthcare, cosmetics, and other enterprises.
About The DermapenWorld® Group of Companies
DermapenWorld® is a leading global provider of microneedling devices and dermatologic cosmetics, primarily targeting the aesthetic medicine industry. The company has a long history of specialized development of microneedling products and a more recent move into cosmetics that complement the core microneedling treatments. The company sells globally through a network of third-party distributors.
SOURCE Richards Packaging Inc.