DivestmentJun 1, 2026, 07:00 AM
Waldencast to Sell Obagi Medical for up to $460M; Focus on Milk Makeup
AI Summary
Waldencast plc announced a definitive agreement to sell its Obagi Medical dermatological skincare and aesthetics business to Bridgepoint for up to $460 million. This strategic move aims to strengthen Waldencast's balance sheet and allow it to focus on accelerating the global growth of its remaining brand, Milk Makeup. Founders Michel Brousset and Hind Sebti will transition to lead Obagi Medical with Bridgepoint, while Felipe Dutra will become Waldencast's Executive Chairman. The company plans to repay its $178 million senior term loan with the proceeds.
Key Highlights
- Waldencast to sell its Obagi Medical business to Bridgepoint for up to $460 million.
- The transaction aims to strengthen Waldencast's balance sheet and focus on Milk Makeup.
- Waldencast expects to repay its approximately $178 million senior secured term loan.
- Founders Michel Brousset and Hind Sebti will transition to lead Obagi Medical with Bridgepoint.
- Felipe Dutra, current Chairman, will be appointed Executive Chairman of Waldencast.
- The transaction is expected to close within the third quarter of 2026.
- Milk Makeup generated $110.4 million in net revenue and $15.2 million in Adjusted EBITDA in 2025.
Price Impact
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