THE WHAT? L’Oréal has announced that it has signed an agreement to acquire Skinbetter Science, a US derma skin care brand.
THE DETAILS Distributed via a network of dermatology, plastic surgery and medical aesthetics practices, the brand will be integrated into the French beauty giant’s Active Cosmetics division following completion.
Financial terms of the deal were not disclosed; Skinbetter Science recorded sales of almost US$95 million year to August 31, 2022. Headquartered in Arizona, the brand’s leadership team will continue to run the business following the acquisition, which is expected to complete in Q4.
THE WHY? Myriam Cohen-Welgryn, Worldwide President of L’Oréal’s Active Cosmetics Division, explains, “Skinbetter Science is a perfect complement to the Active Cosmetics Division’s brand portfolio. It will contribute greatly to the L’Oréal Active Cosmetics Division’s long-standing mission to pioneer health and beauty with advanced science-based skincare innovations. I am confident this high-growth US brand has great international potential.”