Shiseido acquiring Dr. Dennis Gross Skincare
The Shiseido American division announced that it has signed a definitive agreement to acquire DDG Skincare Holdings, the owner of the Dr. Dennis Gross Skincare brand.
The acquisition will help broaden Shiseido’s framework in the beauty space, as well as expand its global portfolio of prestige brands, the company announced.
“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. Dr. Dennis Gross Skincare is 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,” said Masahiko Uotani, chairman and CEO of Shiseido. “We are thrilled to welcome the Dr. Dennis Gross Skincare team to the Shiseido family, and I am confident Dr. Dennis Gross Skincare will accelerate our growth in the Americas, a region that has experienced strong business performance, thanks to our portfolio of exceptional brands.”
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Launched in 2000 by skin cancer researcher and dermatologist, Dr. Dennis Gross and his wife Carrie Gross, the brand offers products that leverage active ingredients with skin care benefits and works with a philosophy rooted in research, dermatology and technology.
“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,” Shiseido Americas president and CEO and global M&A leader for Shiseido, Ron Gee, said. “We are also excited to work with Dr. Dennis Gross, a practicing, world-renowned, board-certified dermatologist whose work has attracted a loyal and highly engaged consumer base. With our deep commitment to our teams and our consumers, I know Dr. Dennis Gross Skincare will thrive in the Shiseido portfolio.”
The transaction was led by Shiseido Americas and the New York-based Shiseido Global M&A team, in close coordination with its headquarters, and is subject to customary regulatory approvals and closing conditions and is expected to close in the first quarter of 2024.
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“We launched Dr. Dennis Gross Skincare in 2000 with the mission of making a difference in the lives of all people everywhere by helping them achieve healthier skin. We’ve built an incredible brand with a deep clinical foundation and loyal consumer base, and we are thrilled to have found a partner that shares our values,” Dr. Gross, co-founder of Dr. Dennis Gross Skincare and chief science officer and Carrie Gross, co-founder and chief executive officer said. “With its long and rich heritage blending beauty with science, Shiseido is the ideal home for Dr. Dennis Gross Skincare, and we look forward to partnering with the Shiseido team as we continue developing innovative products and skincare solutions that deliver visible results.”