P&G, the leading household and personal care firm, has acquired makeup and skincare firm First Aid Beauty, according to a report in WWD.
The transaction is said to be valued at around $250 million, although P&G declined to disclosed specific terms of the deal.
Founded by Lilli Gordon in 2008, First Aid Beauty markets a range of toiletries and cosmetics designed to target skin concerns such as acne, eczma, redness and aging. The firm’s product line includes moisturizers, cleansers, serums and masks, which are “formulated with only clean, skin-loving ingredients”.
Commenting on the deal, Markus Strobel, president of P&G’s global skin and personal care, said: “We’re looking in our skin-care portfolio for brands that compliment our portfolio in benefit spaces where we’re currently not present, or in segments of the market where we’re not present, and First Aid Beauty fits the bill pretty well”.
Source: WWD / First Aid Beauty