Hinkaty named to Prestige Brands board
IRVINGTON, N.Y. Charles Hinkaty on Monday was named to the Prestige Brands’ board of directors, the company announced.
Hinkaty brings nearly forty years of executive experience in consumer products to the board, most recently as president and CEO of Del Labs. His background also includes a long career with Bristol-Myers Squibb in marketing, acquisitions, licensing, strategic planning and business development.
“[Hinkaty] has a wealth of experience in the over-the-counter industry,” stated Matthew Mannelly, president and CEO of Prestige Brands. “He adds a breadth of valuable experience to our board in a number of key areas. We look forward to his counsel, and are delighted to welcome him to the board.”
Hinkaty’s past professional affiliations include having served as chairman of the Consumer Healthcare Products Association. Hinkaty holds a B.S and an M.S. from Polytechnic Institute of New York University, and currently serves as a trustee.
Sunscreen with a ‘Mission’
NEW YORK —Mission Skincare, which was founded by more than a dozen leading athletes, has signed the first-ever sunscreen license with MLB Properties.
As part of the partnership, Mission Skincare has developed for spring its new Anti-Sting SPF 30+ Facesticks, SPF 15 lip balms and a Kids All-Sport continuous spray SPF 50+.
To develop the line, athletes teamed up with scientists and doctors to create sunscreens that boast antisting technology, ultra-sweat-proof properties and fast-drying ingredients that are paraben and preservative free.
The products are sold at select sports-specialty and health-and-beauty retailers, including CVS/pharmacy, Dick’s Sporting Goods, Finish Line and Sport Chalet.
Mission Skincare, the first and only line of athlete-engineered skin care products, was founded in 2008 by a group of athletes, including New York Mets’ David Wright, tennis pro Serena Williams and basketball pro Steve Nash.
L’Oreal gets colorful with Essie deal
NEW YORK —In a move to bolster its share in the nail color and care market, L’Oreal USA is looking to acquire the Essie cosmetics business, a nail brand that today boasts more than 300 shades and is available in more than 250,000 salons and spas in 95 countries.
Financial terms of the deal were not disclosed. The acquisition, which is subject to regulatory approval, is expected to be completed within 60 to 90 days.
Essie Weingarten founded Essie Cosmetics in 1981. Based in Astoria, N.Y., the company’s portfolio includes nail colors, treatments, accessories, spa products and lip glosses. Essie’s net sales through the last 12 months were $28 million.
“This strategic acquisition will enable L’Oreal to increase our share in the nail color and care market, which has seen significant growth year over year,” stated Frederic Roze, president and CEO of L’Oreal USA. Wein garten and Max Sortino, CEO of Essie, will continue to play a pivotal role under a multiyear agreement.
“It’s a perfect match,” Weingarten stated. “This acquisition presents a tremendous opportunity to allow the Essie brand to grow even stronger. With Max and me as part of the team, we will be able to provide our customers with a greater level of service as we take the brand to new heights.”