L'Oréal: News Release: "L’Oréal signs an agreement to acquire Skinbetter Science, a physician-dispensed American skincare brand"
23 Septembre 2022 - 08:00AM
L'Oréal: News Release: "L’Oréal signs an agreement to acquire
Skinbetter Science, a physician-dispensed American skincare brand"
NEWS RELEASE
L’Oréal
signs
an
agreement
to
acquire Skinbetter
Science,a
physician-dispensed
American skincare
brand
Clichy, September
23, 2022 – L’Oréal
signed an agreement to acquire Skinbetter Science, a
physician-dispensed American skincare brand backed by cutting-edge,
dermatological science, combining patented efficacious ingredients
with luxurious sensorial textures.
Skinbetter Science was co-founded in 2016 by
pharmaceutical industry professionals, Jonah Shacknai, Justin Smith
and Seth Rodner, and has since become one of the fastest growing
medical-dispensed skincare 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 supported by
deep knowledge of skin and chemistry with clinical trials led by
board-certified dermatologists.
Skinbetter Science’s products are mainly
available through a network of leading dermatology, plastic surgery
and medical aesthetics practices throughout the United States,
powered by a national medical sales team.
Skinbetter Science recorded nearly USD 95
million of sales in the trailing-twelve-months that ended August
31, 2022. Headquartered in Arizona, the brand’s leadership team
will continue to run the business following the acquisition and
will be integrated under the leadership of Christina Fair,
President of the Active Cosmetics Division within L’Oréal USA.
Commenting on the acquisition, Myriam
Cohen-Welgryn, Worldwide President of L’Oréal’s Active Cosmetics
Division, said, “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.”
David Greenberg, Chief Executive
Officer, L'Oréal USA and President, North America Zone,
added, “We are thrilled to welcome the Skinbetter Science team to
L’Oréal. 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
relationships of trust that they have built with their healthcare
professional partners to take this part of our business to the next
level.”
Jonah Shacknai, Founder & Executive
Chairman of Skinbetter Science, said, “The entire
Skinbetter Science team is excited to be joining the L’Oréal
family. L’Oréal is the leading beauty company in the world, and its
extraordinary leadership, resources and international reach will
allow us to maximize opportunities
for medical aesthetics practices, patients and our
Skinbetter colleagues. We are very proud of all we have
accomplished as an independent brand and look forward to
collaboration with such an innovative and socially responsible
global organization. We genuinely believe there to be superb
mission and values alignment between our companies.”
The closing is expected to occur in early Q4
2022, subject to the standard regulatory approvals and other
customary conditions.About L’OréalFor over 110
years, L’Oréal, the world’s leading beauty player, has devoted
itself to one thing only: fulfilling the beauty aspirations 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 programme, we offer each and every person around the world
the best in terms of quality, efficacy, safety, sincerity and
responsibility, while celebrating beauty in its infinite plurality.
With 85,400 committed employees, a balanced geographical footprint
and sales across all distribution networks (e-commerce, mass
market, department stores, pharmacies, hair salons, branded and
travel retail), in 2021 the Group generated sales amounting to
32.28 billion euros. With 20 research centers across 11 countries
around the world and a dedicated Research and Innovation team of
over 4,000 scientists and 3,000 tech professionals, 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
of sale or solicitation of an offer to purchase L'Oréal shares. If
you wish to obtain more comprehensive information about L'Oréal,
please refer to the public documents registered in France with the
Autorité des Marchés Financiers, also available in English on our
website www.loreal-finance.com.This press release may contain
forecast information. While the Company believes that these
statements are based on reasonable assumptions as of the date of
publication of this press release, they are by nature subject to
risks and uncertainties which may lead to a discrepancy between the
actual figures and those indicated or suggested in these
statements.”
CONTACTS
L’ORÉAL Switchboard +33 (0)1 47 56 70 00 |
Individual shareholders and market regulators
Christian MUNICH +33 (0)1 47 56 72 06
Christian.munich2@loreal.com |
Financial
analysts and institutional investors Françoise LAUVIN +33
(0)1 47 56 86 82 Francoise.lauvin@loreal.com |
Media Noëlle CAMILLERI +33 (0)6 79 92 99 39
Noelle.camilleri@loreal.com Christine BURKE +33 (0)6 75 54
38 15 Christine.burke@loreal.com |
For further information, please contact your
bank, stockbroker of financial institution (I.S.I.N. code:
FR000012031), and consult your usual newspapers or magazines or the
Internet site for shareholders and investors,
www.loreal-finance.com, the L’Oréal Finance app or call the
toll-free number from France: 0 800 66 66 66. 0 800 66 66 66
Follow us on Twitter
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- PR_L’ORÉAL SIGNS AN AGREEMENT TO ACQUIRE SKINBETTER SCIENCE, A
PHYSICIAN-DISPENSED AMERICAN SKINCARE BRAND
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