Beauty conglomerate L’Oréal has revealed it has signed an agreement to acquire Skinbetter Science, a medical-dispensed skincare brand focused on dermatological science.
At its headquarters in Arizona, US, the brand’s leadership team will continue to run the business following its acquisition.
It will be integrated under the leadership of Christina Fair, president of the Active Cosmetics Division at L’Oréal USA.
The American brand was co-founded in 2016 by three members of the pharmaceutical industry and has since become known for its products that utilise active ingredients focused on a range of skin concerns.
Its offering is mostly available through a network of dermatology, plastic surgery and medical aesthetics practices in the US.
In a release, however, Myriam Cohen-Welgryn, worldwide president of L’Oréal’s Active Cosmetics Division, said there was potential for the label to grow internationally.
CEO of L’Oréal USA and president, North America zone, David Greenberg seconded Cohen-Welgryn’s comment, adding: “Together with Christina Fair and our Active Cosmetics Divison, 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.”
L’Oréal stated that it is expecting the acquisition to close in early Q4 2022, subject to the standard regulatory approvals.