BeFine Skincare
BeFine Skincare

    The Befine natural food skin care line was originally launched in 2006, and by 2008 achieved a peak sales volume of $6.3 million. The innovative product line was available nationwide in 12,000 doors in the food drug channels of distribution. Between 2006 and 2009, the founders of Befine spent more than $14 Million in advertising dollars to promote their products; including ads in fashion magazines and customized retail store displays. 

    In 2009, the company defaulted on their bank loans and could not afford the cost of bankruptcy, so as the only secured creditor, Santander Bank stepped forward and took ownership of the entire inventory of components, finished product, and intellectual property. Santander Bank contacted Castle and Bishop Financial to find a suitable buyer for the assets of Befine. 

    Despite the condition of the economy in 2009, and after an exhaustive and thorough due diligence period, including; an analysis of past financials, an inspection of the inventory and correspondence with retailers, Castle and Bishop Financial negotiated a mutually acceptable contract between a recognized HBC company and Santander Bank. As compensation for its’ efforts, Castle and Bishop Financial retained an equity ownership in the new Befine entity.


BeFine Skincare

    The Befine natural food skin care line was originally launched in 2006, and by 2008 achieved a peak sales volume of $6.3 million. The innovative product line was available nationwide in 12,000 doors in the food drug channels of distribution. Between 2006 and 2009, the founders of Befine spent more than $14 Million in advertising dollars to promote their products; including ads in fashion magazines and customized retail store displays. 

    In 2009, the company defaulted on their bank loans and could not afford the cost of bankruptcy, so as the only secured creditor, Santander Bank stepped forward and took ownership of the entire inventory of components, finished product, and intellectual property. Santander Bank contacted Castle and Bishop Financial to find a suitable buyer for the assets of Befine. 

    Despite the condition of the economy in 2009, and after an exhaustive and thorough due diligence period, including; an analysis of past financials, an inspection of the inventory and correspondence with retailers, Castle and Bishop Financial negotiated a mutually acceptable contract between a recognized HBC company and Santander Bank. As compensation for its’ efforts, Castle and Bishop Financial retained an equity ownership in the new Befine entity.


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