The deal reinforces Expanscience’s presence in what it describes as a “high growth market.”
Babo Botanicals was founded in 2010 by Kate Solomon, a young mother searching for safe, efficacious and natural products for her children. The company develops and markets a full range of mineral- and plant-based premium skin care, sun care and hair care solutions for babies, children and adults with sensitive skin. The firm’s formulations are certified by the Environmental Working Group.
Solomon will retain her position as president of Babo Botanicals and will continue to operate with her team out of its Scarsdale, NY offices.
Laboratoires Expanscience, founded in 1950, is a French family-owned pharmaceutical and dermo-cosmetics laboratory, with a turnover of about €270 million ($304 million at current exchange rates), 62% of which is international.
According to Expanscience, the strategic acquisition of Babo Botanicals will allow it to strengthen its presence in the baby and family category, with the addition of a business and brand that are complementary to its own Mustela brand, in terms of product lines, customers and expertise, particularly in the natural skin care and mineral-based sun care categories. Mustela will also gain access to important US distributors, specialized in premium natural and safe products, as well as to key retailers including Whole Foods where Babo Botanicals is launching nationwide.
Furthermore, Babo Botanicals’ growth will be accelerated both in the US and international markets, according to Expanscience.
“This acquisition marks an important milestone in Expanscience’s development in the US market,” said Jean-Paul Berthomé, president of Laboratoires Expanscience. “Babo Botanicals will accelerate Mustela’s growth in the US and is fully aligned with our commitment to the well-being of consumers. We share the same values and ambitions. We look forward to working with Kate Solomon and to providing Babo Botanicals with our expertise and resources to grow the brand both in the US and abroad.”
Solomon and the Babo Botanicals team will continue to operate out of its Scarsdale, NY offices.
Vendôme Global Partners, a New York-based M&A advisory firm, acted as exclusive financial advisor to Expanscience/Mustela.