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Wednesday, September 28, 2022Sector

L'Oréal signs agreement to acquire Skinbetter Science

L’Oréal signe un accord pour l’acquisition de Skinbetter Science

The cosmetics giant has announced that it has signed an agreement to acquire Skinbetter Science, a US skin care brand. Skinbetter Science products are mainly prescribed by a network of top dermatologists, plastic surgeons and aesthetic physicians in the United States and distributed by a medical team spread across the country.

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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 prescribed skincare brands in the United States.
Skinbetter Science has achieved over $95 million in sales in one year (as of July 31, 2022). The current management team will continue to run the business from its Arizona headquarters under the supervision of Christina Fair, President of the Active Cosmetics Division of L’Oréal USA.

“The acquisition of Skinbetter Science will perfectly complement our portfolio and strongly contribute to our long-standing mission to advance health and beauty through science and innovation. I am convinced that this fast-growing U.S. brand has tremendous international potential,” said Myriam Cohen-Welgryn, President of the Active Cosmetics Division of the L’Oréal Group.

Jonah Shacknai, Founder and Executive Chairman of Skinbetter Science, said he was “delighted to join L’Oréal. Its extraordinary leadership, resources and global reach will enable us to maximize opportunities for aesthetic medicine centers and patients, as well as for our colleagues at Skinbetter Science. We are very proud of what we have accomplished as an independent brand and look forward to working with such an innovative and socially responsible global …

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