Procter & Gamble Acquires Farmacy Beauty

Procter & Gamble is acquiring Farmacy Beauty, an indie beauty brand that calls itself, “farm-to-face skin care.” A purchase price was not disclosed. Farmacy Beauty was founded six years ago by entrepreneur David Chung. The company's best-selling brands include Green Clean cleansing balm, Honeymoon Glow Serum and Filling Good hyaluronic acid serum. According to sources, Farmacy Beauty's sales approach $80 million.

Farmacy is a direct-to-consumer brand and exclusive to Sephora in North America. The acquisition gives P&G the ability to reach younger consumers. That's a group that's less likely to purchase brands such as Olay, SKII and First Aid Beauty. 

Mina Chae, Farmacy’s vice president of global marketing, will become the president and CEO. Chung will remain as an adviser for a year. 

“Farmacy brings to P&G Beauty a full line of prestige products that deliver skin care solutions rooted in Responsible Beauty,” P&G Beauty President Markus Strobel said in a statement. “It is a great complement to our current portfolio of brands and a demonstration of our commitment to provide responsible skin care solutions that are scientifically proven to be efficacious.”