On December 23, The Shiseido Americas Corporation, a Shiseido Company subsidiary, announced the acquisition of DDG Skincare Holdings LLC, which owns Dr. Dennis Gross Skincare.
The purchase price is $450 million, and Shiseido will acquire 100% of the shares of DDG Skincare Holdings. The acquisition is expected to be completed in the first quarter of 2024.
Shiseido has already established itself as a leader in the skincare industry with its renowned brands like Shiseido and Clé de Peau Beauté. Through this acquisition, the company aims to enhance its portfolio and expedite its worldwide growth. The acquisition aligns with Shiseido Group’s corporate mission, which prioritizes innovation, and seamlessly complements the company’s strategic framework for skin beauty and its prestigious brand collection on a global scale.
Dr. Dennis Gross Skin Care was founded in 2000 by Dennis Gross, a former skin cancer researcher and practicing dermatologist, and his wife Carrie Gross. The company offers dermatology-based products, including at-home peeling products, and has a cult following in North America. In 2020, the brand successfully attracted investment from Main Post Partners, a private equity firm that had previously invested in popular beauty brands like Too Faced and Milk Makeup.
Dr. Dennis Gross Skincare will now be able to leverage Shiseido’s huge global support network, commercial experience, and R&D expertise, which is expected to help fuel its long-term growth trajectory.
In 2023, DDG Skincare Holdings is expected to generate approximately $94 million in sales, an 18% increase over the previous year.