Japanese Beauty giant Shiseido has announced that its Americas subsidiary has signed a definitive agreement to acquire DDG Skincare Holdings, the owner of the Dr Dennis Gross Skincare brand, for an undisclosed sum.
It said the “highly strategic transaction” brings it a dermatologist-led, science-based prestige skincare that it claims has “revolutionized the beauty industry by bringing high-level products to consumers everywhere”.
The purchase supports the group’s innovation-focused corporate mission and is “a synergistic complement to the company’s skin beauty strategic framework and global portfolio of prestige brands”.
It also helps it “accelerate and strengthen its core prestige skincare business”, which includes brands Shiseido and Clé de Peau Beauté.
Dr Dennis Gross Skincare was launched in 2000 by the eponymous former skin cancer researcher and practicing dermatologist with his wife, Carrie Gross.
Shiseido said the resulting products are “distinctive and highly effective, leveraging active ingredients with proven skincare benefits”, based on its philosophy that’s “rooted in research, dermatology, and technology”.
The brand will now be able to reply on Shiseido’s huge global support network, commercial experience, and R&D expertise, hopefully boosting its long-term growth trajectory.
Importantly for the Japanese company the purchase also aids its “geographic diversification and reinforces its investment in the Americas, with an aim to accelerate growth and increase profitability in the region”.
Masahiko Uotani, Chairman and CEO of Shiseido, said: “This transaction is well-aligned with Shiseido’s 2030 goal of becoming a personal beauty wellness company that supports people in realizing unique beauty and wellness throughout their lives. [It’s] the perfect complement to our global portfolio of prestige brands as their core values are aligned with ours in terms of their scientific and innovative approach to beauty and our people-first culture.”
And its Americas President/CEO (and Global M&A Leader) Ron Gee, added: “We have long-admired what Carrie Gross has built through innovation and disruption of the beauty industry as well as the unique way in which the brand delivers credible and effective products through research, accessibility and education.”
Meanwhile, Dr Gross himself said Shisedo “is the ideal home” for the label.
The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in Q1.
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