Galderma buys ZO Skin Health for $1.5B in cash from Blackstone, Obagi family
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- Galderma Group AG (GALDY) has agreed to acquire ZO Skin Health Inc. in an all-cash deal valued at $1.5B, strengthening the Swiss dermatology company’s presence in the US physician-dispensed skincare market.
- Galderma has signed an agreement to acquire California-based Zo from shareholders, including funds managed by Blackstone (BX) and the founding Obagi family, according to a statement Wednesday.
- The acquisition is expected to be core EPS neutral in the first full year following closing and to be in-line with Galderma’s commitment to a solid investment grade credit rating.
- Lazard is acting as the lead financial advisor, JP Morgan (JPM) is acting as a financial advisor, and Ropes & Gray LLP is acting as the legal advisor to Galderma.
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