The Shiseido Americas Corporation, a Shiseido Company subsidiary, announced today that it has signed a definitive agreement to acquire Dr. Dennis Gross parent company DDG Skincare Holdings. The deal is expected to close in the first quarter of 2024.
Known for its cult Alpha Beta Universal Daily Peel pads and the DRx SpectraLite FaceWare Pro LED mask seen across celebrities’ social media feeds, the 24-year-old brand was founded by dermatologist Dr. Dennis Gross and his wife Carrie Gross.
In 2020, the brand received investment from private equity firm Main Post Partners, which previously invested in Too Faced and Milk Makeup.
The acquisition expands Shiseido’s prestige skincare portfolio, which includes Shiseido as well as Clé de Peau Beauté and Drunk Elephant. In a release announcing the deal, Masahiko Uotani, chairman and chief executive of Shiseido, said the brand’s “scientific and innovative approach to beauty” aligned with Shiseido’s portfolio. He also emphasised the importance of the brand to drive sales growth in the Americas, which accounted for 11.3 percent of Shiseido Company’s global sales for the first nine months of 2023. The acquisition is expected to help the company diversify geographically.
Learn more:
Unilever to Acquire K18 Haircare
Unilever beat out a host of bidders, including rival consumer goods conglomerates and private equity firms.
