Galderma Agrees to Buy ZO Skin Health for $1.5 Billion
Galderma has agreed to acquire medical-grade skincare company ZO Skin Health from Blackstone for approximately $1.5 billion to expand its United States market presence.
Galderma, a Swiss skincare conglomerate, has agreed to acquire medical-grade skincare company ZO Skin Health for approximately $1.5 billion. The investment firm Blackstone will sell the company, having previously explored the transaction with assistance from investment banks Citigroup and Raymond James.
The acquisition aims to grow the presence of Galderma in the United States market. This move follows the company's recent establishment of a regional headquarters in Miami to oversee operations in the U.S. and Latin America.
Founded in 2007 by dermatologist Zein Obagi, ZO Skin Health specializes in physician-distributed skincare products. This specific sector has become a priority for strategic buyers because it offers steadier demand than over-the-counter skincare options. An official announcement regarding the deal is expected in the coming days.
