Galderma announced it has signed a definitive agreement to acquire ALASTIN Skincare.
Galderma, the world’s largest independent dermatology company, announced that it has signed a definitive agreement to acquire Alastin Skincare, Inc., a specialty aesthetics company dedicated to developing innovative and clinically-tested physician-dispensed skincare products, according to a press release. The acquisition is subject to customary closing conditions and necessary regulatory approvals and the financial terms have not been disclosed.
Alastin was founded in 2015. It features both daily and per-procedural use skincare products that are backed by its TriHex Technology. TriHex Technology is a blend of peptides and active botanicals to support the appearance of rejuvenated skin, according to the release.
Alastin has achieved rapid and consistent sales growth, achieving a CAGR of 106% between 2016 and 2020. Its skincare was ranked the most preferred skincare brand in a blinded survey of physicians who carry Alastin and other skincare brands, conducted by Corsica Life Sciences in December 2020, the press release continued.
The company was named as one of Forbes best start-up employers in America in 2020 and 2021 and was named as one of the fastest growing private companies in America on the INC 5000 2020 and 2021 lists.
“Galderma’s business consistently delivers strong results and remains at the forefront of this rapidly expanding market, driven by increasing consumer interest and acceptance of aesthetic procedures,” Flemming Ørnskov, MD, MPH, CEO of Galderma, said. “The addition of Alastin, with its synergistic portfolio and expertise in science-proven skincare, increases our ability to serve the needs of consumers and underscores our commitment to be the partner of choice for aesthetic professionals.”
He continued. “This transaction will further enhance our premium product offering and provides a tremendous platform for future growth. We look forward to welcoming the Alastin team into Galderma and partnering with them to advance the science of dermatology together.”
Galderma plans to leverage its global reach and integrated dermatology platform to promote Alastin’s continued growth and reach more healthcare professionals and consumers more effectively, the release further explained.
Also, Galderma will support further product innovation of Alastin’s portfolio, while simultaneously enabling cross-selling opportunities for Alastin’s products and technologies in the US. Effectively combining Galderma’s pipeline and track record of first-to-market innovation with Alastin’s proprietary and award-winning skin care technology represents an unparalleled opportunity for Galderma to better meet the needs of aesthetic professionals and patients.
“We are thrilled to become part of Galderma for the next stage of Alastin’s growth story. We share the same vision of bringing the highest levels of science and innovation to the professional skin care market, and I look forward to working with the team to leverage Galderma’s expertise in this space to drive the Alastin Skincare brand to new heights,” said Diane S. Goostree, president and CEO of Alastin Skincare.
Ropes & Gray LLP is acting as legal advisor to Galderma, and Latham & Watkins LLP is acting as legal advisor to Alastin. William Blair & Company, LLC is serving as the exclusive financial advisor to Alastin.
Reference:
Galderma to acquire award-winning Alastin Skincare enhancing its integrated dermatology platform to continue delivering the best experience to patients. Press release. Published November 29, 2021. Accessed November 29, 2021. https://www.businesswire.com/news/home/20211129005282/en/Galderma-to-Acquire-Award-winning-ALASTIN-Skincare%C2%AE-Enhancing-Its-Integrated-Dermatology-Platform-to-Continue-Delivering-the-Best-Experience-to-Patients
