Vermont’s Original, a new company formed by Timepiece Capital and Gemini Investors, has acquired the assets of Dairy Association Company (DAC) for an undisclosed amount.
Based in Vermont, DAC is the maker of Bag Balm, a salve used for chapped and chafed skin. Vermont's Original plans to freshen up the Bag Balm brand and increase sales.
Young America Capital (YAC) served as financial advisor to DAC in the deal.
Dairy Association Company President Barbara Norris Allen said: "We knew that being acquired by the right buyer was critical to Bag Balm's future success. Young America lead our efforts and identified the perfect company.
Young America Capital Managing Partner Peter Formanek said: "We're extremely pleased that our unique strategic approach resulted in a transaction that aligned the right players at the right time.
"This deal offers an opportunity for the buyer to continue a great Vermont legacy while expanding the possibilities and availability of Bag Balm in a vast marketplace."
