L’Oreal ssign an aapproval tO aPurchase Skinbetter Science,
a pPhysician-i.eissued American sskincare bedge
Clichy, September 2nd32022 – L’Oréal has signed an acquisition agreement Skinbetter Sciencea doctor-prescribed American skincare brand based on cutting-edge dermatological science, combining patented, potent ingredients with luxurious sensory textures.
Skinbetter Science was co-founded in 2016 by pharmaceutical industry professionals Jonah Shacknai, Justin Smith and Seth Rodner and has since grown into one of the fastest growing medical skin care brands in the United States. Skinbetter Science is known for formulating innovative products with active ingredients for anti-aging, moisturizing, cleansing, exfoliating, skin peeling and sun protection. The brand is strongly backed by in-depth knowledge of skin and chemistry with clinical studies led by board-certified dermatologists.
Skinbetter Science Products are available primarily through a network of leading dermatology, plastic surgery and medical aesthetic practices in the United States, supported by a national medical distribution team.
Skinbetter Science reported revenue of nearly $95 million for the trailing twelve months ended August 31, 2022. Headquartered in Arizona, the brand’s leadership team will continue to run the business after the acquisition and will be integrated under the leadership of Christina Fair, President of L’Oréal USA’s Active Cosmetics Division.
comment on takeover, Myriam Cohen-Welgryn, Global President of L’Oréal’s Active Cosmetics Divisionsaid, “Skinbetter Science is a perfect addition to the Active Cosmetics Division brand portfolio. It will greatly contribute to L’Oréal Active Cosmetics Division’s long-standing mission to pioneer health and beauty with advanced, science-backed skincare innovations. I am confident that this high-growth US brand has great international potential.”
David Greenberg, Chief Executive Officer, L’Oréal USA and President of the North America Zoneadded, “We are very pleased to welcome the Skinbetter Science team to L’Oréal. I am confident that the brand will strengthen our North American dermatological beauty business, an area that we believe has dynamic growth potential. Together with Christina Fair and our Active Cosmetics Division, we see an opportunity to draw on the strength of the amazing team behind the brand and leverage the trusted relationships they have built with their healthcare partners to take this part of our business to the next level .”
Jonah Shacknai, Founder and CEO of Skinbetter Sciencesaid, “The entire Skinbetter Science team is excited to join the L’Oréal family. L’Oréal is the world’s leading beauty company and its exceptional leadership, resources and international reach will allow us to maximize opportunities for medical aesthetic practices, patients and our Skinbetter colleagues. We are very proud of everything we have achieved as an independent company brand u look forward to working with such an innovative and socially responsible global organization. We firmly believe that there is an excellent alignment of mission and values between our companies.”
Closing is expected to occur in early fourth quarter of 2022, subject to customary regulatory approvals and other customary conditions.
For over 110 years, L’Oréal, the world’s leading beauty player, has been dedicated to one thing: fulfilling the beauty needs of consumers around the world. Our purpose to create the beauty that moves the world defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our L’Oréal for the Future program, we bring the very best in quality, efficacy, safety, honesty and responsibility to everyone around the world, while celebrating beauty in its infinite Diversity.
With 85,400 dedicated employees, a balanced geographic footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), the group generated sales of EUR 32.28 billion in 2021. With 20 research centers in 11 countries around the world and a dedicated research and innovation team of over 4,000 scientists and 3,000 technical experts, L’Oréal is focused on inventing the future of beauty and becoming a beauty-tech powerhouse.
More information on https://www.loreal.com/en/mediaroom
“This press release does not constitute an offer to sell, nor a solicitation of an offer to buy, any shares of L’Oréal. If you would like more complete information about L’Oréal, please refer to the public documents financiers registered in France with the Autorité des Marchés , also available in English on our website www.loreal-finance.com.
This press release may contain forecast information. While the Company believes these statements are based on reasonable assumptions as of the date of this press release, they inherently involve risks and uncertainties that could cause actual figures to differ from those expressed or suggested in these statements.”
For more information, please contact your bank, stockbroker or financial institution (ISIN code: FR000012031) and consult your usual newspaper or magazine or the website for shareholders and investors. www.loreal-finance.comthe L’Oréal Finance app or call the toll-free number from France: 0 800 66 66 66. 0 800 66 66 66
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PR_L’ORÉAL SIGNS AN AGREEMENT TO ACQUIRE SKINBETTER SCIENCE, AN AMERICAN SKIN CARE BRAND DISTRIBUTED BY DOCTORS