Vermont’s Original, a new company formed by Timepiece Capital and Gemini Investors, has acquired the assets of Dairy Association Company (DAC) for undisclosed amount.

Based in Vermont, DAC is the maker of Bag Balm, a salve used for chapped and chafed skin. The product still comes in the original, green can which has remained unchanged for over 100 years.

It is in yellow in color and has a thick texture. It helps relieve chapped, scratched, windburned or sunburned skin anywhere on the body.

Vermont’s Original noted that it intends to freshen up the Bag Balm brand and increase sales

Young America Capital (YAC) served as financial advisor to DAC in the deal.

YAC Senior Director Stanley Tobin said: "Bag Balm’s strong and growing brand recognition among consumers brought a sizable level of interest from consumer goods focused private equity firms."

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," Formanek added.