M&A Deal Summary

Waldencast Acquires Obagi

On November 15, 2021, Waldencast acquired consumer products company Obagi from Haitong International Zhonghua Finance Acquisition Fund I

Acquisition Highlights
  • This is Waldencast’s 2nd transaction in the Consumer Products sector.
  • This is Waldencast’s 2nd transaction in the United States.
  • This is Waldencast’s 1st transaction in California.

M&A Deal Summary
Date 2021-11-15
Target Obagi
Sector Consumer Products
Buyer(s) Waldencast
Sellers(s) Haitong International Zhonghua Finance Acquisition Fund I
Deal Type Add-on Acquisition
Advisor(s) Lazard Ltd. (Financial)
Latham & Watkins (Legal)

Target

Obagi

Long Beach, California, United States
Obagi is a physician-dispensed brand in the dermo-cosmetic space, the highest-growth category in skin care. Obagi's product portfolio includes brands Obagi Nu-Derm®, Condition & Enhance®, Obagi-C® Rx, ELASTIDerm® and CLENZIDerm®.

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Buyer(S) 1

Buyer

Waldencast

New York, New York, United States
Category Company
Sector Consumer Products
DESCRIPTION

Waldencast’s vision is to build a global beauty and wellness operating platform by developing, acquiring, accelerating, and scaling the next generation of conscious, purpose-driven brands. The Company intends to seek brands with a direct connection to today’s evolving consumers whose goals include pursuing social responsibility, inclusiveness, sustainability, and transparency. Its goal is to become the partner of choice for next-generation brands and consumers by leveraging the collective leadership and the industry-specific operating experience of its management team.

DEAL STATS #
Overall 2 of 2
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Milk Makeup

New York, New York, United States

Milk Makeup is an award winning color cosmetics line from the visionary co-founders of Milk Studios, Mazdack Rassi, Erez Shternlicht and Moishe Mana. Milk has been at the cultural intersection of the fashion, music photography and film worlds and is a hub for nurturing creativity. In 2016, Milk launched its first consumer product line, Milk Makeup, which has rapidly grown as the leader of a pack of new rebellious, upstart indie brands. Milk Makeup was founded by Milk's Mazdack Rassi and his co-founders, along with Dianna Ruth, Georgie Greville and Zanna Roberts Rassi.

Buy -

Seller(S) 1

SELLER

Haitong International Zhonghua Finance Acquisition Fund I

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Haitong International is a private equity firm that invests in a variety of industries and situations. Haitong International is headquartered in Hong Kong, China.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-10 Obagi

Long Beach, California, United States

Obagi is a physician-dispensed brand in the dermo-cosmetic space, the highest-growth category in skin care. Obagi's product portfolio includes brands Obagi Nu-Derm®, Condition & Enhance®, Obagi-C® Rx, ELASTIDerm® and CLENZIDerm®.

Buy $190M
Mergr

Product

Company

Legal