L'Oréal has completed an agreement to acquire Skinbetter Science, a US skincare brand known for formulating innovative products with active ingredients to combat aging, hydrate, cleanse, exfoliate, and protect from the sun.
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 skincare brands in the United States. It recorded nearly $95 million in sales in its last fiscal year, which ended August 31.
Based in Arizona, Skinbetter Science will continue to be led by its current management team after the acquisition and will be integrated under the leadership of Christina Fair, president of the Active Cosmetics division of L'Oréal USA.
"Perfect complement"
“ Skinbetter Science is a perfect addition to the Active Cosmetics brand portfolio. It will greatly contribute to our mission of pioneering health and beauty with advanced, science-based innovations in skincare. I am confident that this rapidly growing US brand has great international potential ,” says Myriam Cohen-Welgryn, Global President of L'Oréal's Active Cosmetics division.
David Greenberg, CEO of L'Oréal USA and president of the North American region, is convinced that the alliance will " strengthen " the company's beauty business in North America, " an area we believe has dynamic growth potential ."
The deal is expected to close in early fourth quarter, subject to customary regulatory approvals.
