Colgate’s latest acquisition signals entry in skin care category
New York City-based Colgate-Palmolive has announced that it will be entering the skin care business. The company plans to do so by acquiring, PCA Skin and EltaMD in two separate transactions.
PCA Skin is a brand that specializes in medical-grade in-office and take-home skin care products, with support from dermatologists, plastic surgeons and aestheticians. EltaMD is a physician-dispensed sun care brand. Together, the companies net sales for 2017 approximately totaled to $100 million, Colgate-Palmolive said.
"PCA Skin and EltaMD form an exciting combination for Colgate's entry into the professional skin care category. We are delighted that these high-growth, high-margin brands will strengthen our global personal care business. Their complementary product portfolios and sales forces, strong professional support and similar distribution channels will advance Colgate's presence in the premium global skin care category. Furthermore, these businesses will benefit from Colgate's decades-long legacy of working with professional experts to deliver recommendations that benefit their patients," Ian Cook, Colgate's chairman, president and CEO said.
Terms of the deals were not disclosed and both transactions are expected to close in the first quarter of 2018.
PCA Skin is a brand that specializes in medical-grade in-office and take-home skin care products, with support from dermatologists, plastic surgeons and aestheticians. EltaMD is a physician-dispensed sun care brand. Together, the companies net sales for 2017 approximately totaled to $100 million, Colgate-Palmolive said.
"PCA Skin and EltaMD form an exciting combination for Colgate's entry into the professional skin care category. We are delighted that these high-growth, high-margin brands will strengthen our global personal care business. Their complementary product portfolios and sales forces, strong professional support and similar distribution channels will advance Colgate's presence in the premium global skin care category. Furthermore, these businesses will benefit from Colgate's decades-long legacy of working with professional experts to deliver recommendations that benefit their patients," Ian Cook, Colgate's chairman, president and CEO said.
Terms of the deals were not disclosed and both transactions are expected to close in the first quarter of 2018.