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Gladstone Place Partners is handling the $1.2B three-way business combination of Obagi advanced skin care company, Milk Makeup vegan brand and Waldencast Acquisition Corp. SPAC to create a global beauty and wellness platform.
Obagi is a leading player in the fast-growing dermo-cosmetic space, ranking as the No. 1 doctor-dispensed brand for treating acne, premature aging, sun damage and discoloration.
Milk Makeup markets more than 300 cruelty-free, vegan and clean formula products that are sold in Sephora and other retail outlets.
Waldencast is led by CEO Michel Brousset, who was group president of L’Oreal North America consumer products, and COO Hind Sebti, a veteran of L’Oreal and Procter & Gamble.
Brousset said, “partnering with Obagi and Milk Makeup is a major milestone in our ambition to build a best-in-class global multi-brand beauty platform, which will be home for the next generation of high-growth, purpose-driven brands.”
Gladstone Place Partners’ Steve Lipin and Christina Stenson represent Waldencast.
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