L’Oréal to acquire Skinbetter Science
L’Oréal is acquiring U.S.-based, physician-dispensed Skinbetter Science.
Co-founded in 2016 by pharmaceutical industry professionals, Jonah Shacknai, Justin Smith and Seth Rodner, Skinbetter Science is one of the fastest growing medical-dispensed skincare brands in the U.S. It is headquartered in Arizona, and recorded nearly $95 million of sales in the trailing 12 months that ended August 31, 2022.
As part of the terms, Skinbetter Science will be integrated into L'Oréal under Christina Fair, president of the active cosmetics division at L'Oréal USA. The company's management will stay on post-transaction. The closing is expected to occur in early Q4 2022. The financial terms were not disclosed.
"Skinbetter Science is a perfect complement to the active cosmetics division's brand portfolio," said Myriam Cohen-Welgryn, worldwide president of L'Oréal's active cosmetics division.
”It will contribute greatly to the L'Oréal active cosmetics division's long-standing mission to pioneer health and beauty with advanced science-based skin care innovations. I am confident this high-growth U.S. brand has great international potential.”
Most recently, L’Oréal has acquired several science- and dermatology-driven skincare brands including CeraVe and Skinceuticals.
"I am confident the brand will strengthen our North America dermatological beauty business, an area that we believe has dynamic growth potential,” said David Greenberg, chief executive officer of L'Oréal USA and president, North America Zone.
“Together, with Christina Fair and our active cosmetics division, we see an opportunity to draw on the strength of the fantastic team behind the brand and reinforce the relationship of trust that they have built with their healthcare professional partners to take this part of our business to the next level."
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