COMMUNICATED
PRESS
L’Oreal signs an agreement for the acquisition of Skinbetter Science, an American skincare brand prescribed by healthcare professionals
Clichy, the 23 september 2022 – L’Oréal has just signed an agreement for the acquisition Skinbetter Sciencean American skincare brand at the forefront of dermatological research, recommended by healthcare professionals for the effectiveness of its patented ingredients as well as the ultra sensoriality and richness of its textures.
Skinbetter Science was founded in 2016 by pharmaceutical industry professionals Jonah Shacknai, Justin Smith and Seth Rodner. The brand’s growth is one of the strongest among prescription skincare brands in the United States. Skinbetter Science, renowned for its innovative formulations, incorporates state-of-the-art active ingredients intended for anti-aging, moisturizing, cleansing and exfoliating treatments, as well as for sun protection and peelings. Based on in-depth knowledge of dermatology and chemistry, these innovative formulations are backed by clinical trials led by professional members of the American Board of Dermatology.
Products Skinbetter Science are essentially prescribed by a network made up of the best dermatologists, plastic surgeons and aesthetic doctors in the United States and distributed by a medical team distributed throughout the territory.
Skinbetter Science had revenue of more than $95 million year-over-year to July 31, 2022. The current management team will continue to manage the business from headquarters in Arizona, under the supervision of Christina Fair, President of the Active Cosmetics Division of L’Oréal USA.
For Myriam Cohen WelgrynPresident of the Active Cosmetics Division of the L’Oréal group, “ the acquisition of Skinbetter science will come perfectly complete the portfolio of the Active Cosmetics Division and strongly contribute to the mission that has always been ours: to advance health and beauty through science and innovation. I am convinced that this fast-growing American brand offers immense international potential. »
David Greenberg, Managing Director of L’Oréal USA and President of the North America zoneadds: “We are delighted to welcome the team of Skinbetter Science. I’m sure that the brand will strengthen our presence in the North American market for dermocosmeticsa activity which has strong growth potential. For Cristina Fairour Active Cosmetics Division and myself, this acquisition offers the opportunity to leverage the expertise of the fantastic team that has given birth to this brand and to consolidate the relationship of trust that it has weave with its partners in the medical world, in order to further strengthen our market share in this job. »
For Jonah ShacknaiFounder and Executive Chairman of Skinbetter Science, “ The whole team of Skinbetter Science is excited to join the family L’Oreal, leader world of beauty. the leadership of L’Oreal, its extraordinary resources and international reach will allow us to maximize the opportunities for aesthetic medicine centers and patients, as well as for our colleagues in Skinbetter Science. We are very proud of all that we have achieved as an independent brand, and have today look forward to collaborating with such an innovative and socially responsible global group. We sincerely believe that the missions and values of our two companies arewet perfectly in phase. »
This acquisition is expected to close in early Q4 2022, subject to approvals
customary regulatory and other customary closing conditions.
To About L’Oreal
For more than 110 years, L’Oréal, the world leader in beauty, has been dedicated to a single vocation: to meet the beauty aspirations of consumers around the world. Our purpose, to create beauty that moves the world forward, defines our vision of beauty, inclusive, ethical, generous and responsible. With a portfolio of 35 international brands and ambitious social and environmental commitments set as part of our L’Oréal for the Future program, we offer our consumers around the world the best in beauty in terms of quality, efficiency , security, sincerity and responsibility, while celebrating beauty in its infinite diversity.
With 85,400 committed employees, a balanced geographical presence and in all distribution channels (e-commerce, consumer market, department stores, pharmacies and drugstores, hair salons, travel retail and branded boutiques), the Group achieved in 2021 a turnover of 32.28 billion euros. L’Oréal relies on 20 research centers in 11 countries, a team dedicated to Research & Innovation of more than 4,000 researchers and 3,000 Technology professionals, to invent the future of beauty and become the champion of Beauty Tech.
More information on https://www.loreal.com/fr/mediaroom
“This press release does not constitute an offer to sell or a solicitation of an offer to buy L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, we invite you to refer to the public documents filed in France with the Autorité des marchés financiers, also available in English on our website www.loreal-finance.com .
This release may contain certain forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions at the date of publication of this press release, they are by their nature subject to risks and uncertainties that could lead to a difference between the actual figures and those indicated or implied in these statements. . »
For more information, please consult the banks, brokerage firms or financial institutions (ISIN code: FR0000120321), as well as your usual newspapers or the website dedicated to shareholders and investors, www.loreal-finance.com, l L’Oréal Finance mobile application or contact the green number: 0.800.66.66.66 (free call)
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