Galderma to Buy ZO Skin Health for $1.5 Billion
The all-cash deal would expand Galderma’s medical skin-care business, with completion expected in late 2026 or early 2027.
Key takeaways
- Galderma agreed to acquire all of ZO Skin Health for $1.5 billion in cash.
- The deal is expected to close in the fourth quarter of 2026 or early 2027, subject to approvals.
Galderma agreed to acquire all of U.S. skin-care brand ZO Skin Health for $1.5 billion in cash. The company said the purchase is intended to strengthen its medical skin-care business.
The sellers include funds managed by Blackstone Tactical Opportunities and the family of ZO founder Zein Obagi. Galderma said it will fund the deal with existing cash and bank financing.
Completion is expected in the fourth quarter of 2026 or early 2027, subject to regulatory approvals and other customary conditions. Galderma expects the acquisition to have a neutral effect on adjusted earnings per share in its first full financial year after closing.
The company expects a slight dilution to its adjusted EBITDA margin in 2027, with the margin returning to about the group average from 2028. ZO would join Galderma’s skin-care portfolio, which includes Cetaphil and Alastin.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
