12.23.23
Shiseido Company has acquired Dr. Dennis Gross Skincare. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the first quarter of 2024. Terms of the transaction were not disclosed. According to a report shared by Kyodo News Plus, said the deal was valued at $450 million.
The well-known US brand was launched in New York City in 2000 by former skin cancer researcher and practicing dermatologist Dr. Dennis Gross along with his wife Carrie Gross.
Shiseido said the acquisition fits into the growing interest in health and beauty as consumers increase their awareness of skin health and is a "complementary fit" for its prestige portfolio and "strategic addition" to brands such as Shiseido and Clé de Peau Beauté.
“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. 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,” said Shiseido Americas President and CEO and Global M&A Leader for Shiseido Ron Gee.
The brand will also drive growth and profitability for Shiseido’s Americas business and enable Shiseido to diversify its geographical footprint while "resolving the imbalances in our revenue streams,” it said in a statement.
“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.”
The acquisition will have no significant impact on the consolidated financial results of the Shiseido Group for the fiscal period ending December 2023, noted Shiseido.
Dr. Gross and Carrie Gross released a joint statement, noting: “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.”
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The well-known US brand was launched in New York City in 2000 by former skin cancer researcher and practicing dermatologist Dr. Dennis Gross along with his wife Carrie Gross.
Shiseido said the acquisition fits into the growing interest in health and beauty as consumers increase their awareness of skin health and is a "complementary fit" for its prestige portfolio and "strategic addition" to brands such as Shiseido and Clé de Peau Beauté.
“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. 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,” said Shiseido Americas President and CEO and Global M&A Leader for Shiseido Ron Gee.
The brand will also drive growth and profitability for Shiseido’s Americas business and enable Shiseido to diversify its geographical footprint while "resolving the imbalances in our revenue streams,” it said in a statement.
“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.”
The acquisition will have no significant impact on the consolidated financial results of the Shiseido Group for the fiscal period ending December 2023, noted Shiseido.
Dr. Gross and Carrie Gross released a joint statement, noting: “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.”
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