North Castle Partners LLC has sold HDS Cosmetics Lab Inc., the manufacturer of Doctor's Dermatologic Formula (DDF) skin care, to Procter & Gamble Co. The sale is North Castle's third in 2007 and fifth in the past 12 months.
"We have had a great partnership with North Castle, which has brought our growing company substantial intellectual capital and tremendous experience. We now look forward to joining P&G, which is focused on skin care as a key growth category," said Joe Hawley, CEO of HDS Cosmetics Lab.
Terms of the transaction were not disclosed.