PARIS – L’Oréal said it has signed an agreement to acquire Skinbetter Science, a physician-dispensed, U.S.-based skin care brand.
Financial terms were not disclosed.
Skinbetter Science is among the fastest-growing medical-dispensed skin care brands in the country, according to the French beauty giant. Headquartered in Arizona, the company was cofounded in 2016 by Jonah Shacknai, Justin Smith and Seth Rodner, pharmaceutical industry professionals.
Skinbetter Science products have active ingredients with antiaging, moisturizing, cleansing, exfoliating, skin-peeling and sun-protection benefits. They are sold primarily through a network of dermatologists, plastic surgeons and medical aesthetic practices by a medical sales team.
Skinbetter Science generated sales of almost $95 million in the 12 months ended Aug. 31.
The company’s management will stay on, and Skinbetter Science is to be integrated into L’Oréal under Christina Fair, president of the Active Cosmetics Division at L’Oréal USA.
“Skinbetter Science is a perfect complement to the Active Cosmetics Division’s brand portfolio,” Myriam Cohen-Welgryn, worldwide president of L’Oréal’s Active Cosmetics Division, said in a statement released Friday morning. “It will contribute greatly to the L’Oréal Active Cosmetics Division’s longstanding 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.”
David Greenberg, chief executive officer of L’Oréal USA and president, North America Zone, said: “I am confident the brand will strengthen our North America 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 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.”
The deal’s closing is expected to take place early in the fourth quarter of this year.