Barnhardt Announces Sale of Richmond Medical and Dental and Intrinsics Beauty and Spa Brands to SionBrands
The Barnhardt Family (Barnhardt Manufacturing Company, Inc.), a privately held company, announced today it is completing the sale of Richmond Dental and Medical and Intrinsics, a beauty and spa brand, to SionBrands, LLC, a partnership between the Israeli company, Sion Medical, and Mexico-based Degasa, Inc.
"This is the culmination of an exciting strategic move for us," says Lewis Barnhardt, president, and COO. "We've worked building Richmond and Intrinsics into market leaders for decades."
Richmond Dental and Medical was started in 1895 by Dr. Albert Richmond as Richmond Dental Cotton Company for which Barnhardt was a supplier of medical grade cotton before purchasing the company in 1947. "We've continued adding products over the past 25 years including some true innovations like Soft Biteblock®, Reflective Shields Plus®, Level III Patho-O-Guard® facemasks, and Multiplytm sponges."
Barnhardt says Intrinsics, started in the 1980s as Carolina Cotton Beauti-Products, has exceptional market metrics thus greater brand equity in the professional spa, med-spa, and salon markets with products like Silkentm wipes, Naturelletm cotton rounds, Pillowettestm, and compressed and non-compressed sponges."
According to Barnhardt, "We plan on reinvesting and realigning our focus on driving the most profitable growth strategy for our purified cotton and natural fibers products ? period products, self-care, wipes, baby care ? in the USA, Europe, and Asia."
Upon closing of the transaction, which is subject to customary closing conditions, some members of senior leadership of Intrinsics and Richmond Dental and Medical will join Sion Brands.
ABOUT BARNHARDT
Barnhardt Manufacturing first opened its doors in 1900 as a supplier of layered cotton batting, horse drawn buggy seats, and filler for quilts and comforters. We are now one of the largest cotton purifiers in the world. Our mission, from day one, has been to reach the highest standard of quality, maintain our customer commitments, and support our local community. Our hallmark of commitment to the sustainability of our products is only rivaled by the commitment we make to the health and safety of our people and processes. Our companies include: NCFI Polyurethanes, Carolina Absorbent Cotton, Dalton Foam, Kinston Fibers, and Barnhardt Purified Cotton. Barnhardt.net, barnhardtcotton.net
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