Colgate-Palmolive is set to enter the professional skin care category having struck a deal to acquire PCA Skin and Elta MD in two separate transactions in late December.
“PCA Skin and Elta MD form an exciting combination for Colgate’s entry into the professional skin care category. We are delighted that these high-growth, high-margin brands will strengthen our global personal care business,” said Ian Cook, Colgate’s Chairman, President and CEO. “Their complementary product portfolios and sales forces, strong professional support and similar distribution channels will advance Colgate’s presence in the premium global skin care category. Furthermore, these businesses will benefit from Colgate’s decades long legacy of working with professional experts to deliver recommendations that benefit their patients.”
Terms of the deals were not disclosed. Both transactions are expected to complete in the first quarter of this year and are subject to regulatory approval.