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Exclusive-Galderma agrees to buy ZO Skin Health for around $1.5 billion, sources say - Finance news and analysis from Global Banking & Finance Review
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Exclusive-Galderma agrees to buy ZO Skin Health for around $1.5 billion, sources say

Published by Global Banking & Finance Review

Posted on October 13, 2026

2 min read

· Last updated: October 13, 2026

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Galderma to Acquire ZO Skin Health in $1.5 Billion Strategic Move

Galderma's Acquisition of ZO Skin Health: Key Details and Market Impact

By Abigail Summerville

Overview of the Acquisition

NEW YORK, Oct 13 (Reuters) - Swiss skincare conglomerate Galderma has agreed to buy medical-grade skincare company ZO Skin Health for around $1.5 billion, according to two people familiar with the matter.

A deal could be announced in the coming days, the people said.

Responses from Involved Parties

ZO and Galderma, which were contacted outside regular business hours, did not immediately respond to requests for comment. 

ZO's owner, investment firm Blackstone, was exploring a sale of the company with investment banks Citigroup and Raymond James, Reuters reported last month. Blackstone declined to comment on Tuesday. 

Strategic Rationale and Market Expansion

The move by dermatology company Galderma, in which beauty giant L'Oréal owns a 20% stake, will expand its presence in the US market. In August, the company opened a US and Latin America headquarters in Miami. 

Galderma's Brand Portfolio

Established in 1981, Galderma also owns skincare brands Cetaphil and Alastin Skincare, Differin Epiduo acne gel, injectable neurotoxin Dysport, and dermal filler brand Restylane.

Industry Trends

Many strategic buyers ​are prioritizing clinically backed, physician-distributed skincare brands like ZO because of their efficacy ⁠and ​steadier demand versus ​over-the-counter products.

Background on ZO Skin Health

Dermatologist ⁠Zein Obagi founded ZO in 2007. ZO sells skincare products including cleansers, serums, exfoliators and toners ​that are ​distributed by ⁠physicians and skincare professionals.

Blackstone acquired ZO through its tactical opportunities fund in 2020.

(Reporting by Abigail Summerville in New York; Editing by Echo Wang in New York and Jamie Freed)

Key Takeaways

  • The deal, valued at about $1.5 billion, positions Galderma to strengthen its foothold in the physician‑distributed, clinically backed skincare segment.
  • Galderma’s recent investments—including opening a U.S. & Latin America headquarters in Miami—signal its U.S. market expansion strategy and support integration of ZO Skin Health.
  • Blackstone acquired a majority stake in ZO Skin Health in October 2020, highlighting the brand’s growth among professional skincare audiences.

Frequently Asked Questions

Who is acquiring ZO Skin Health?
Swiss skincare conglomerate Galderma is acquiring ZO Skin Health.
How much is the Galderma and ZO Skin Health deal worth?
The acquisition is valued at around $1.5 billion, according to sources.
Who currently owns ZO Skin Health?
Investment firm Blackstone currently owns ZO Skin Health.
What will this acquisition mean for Galderma?
The acquisition will expand Galderma’s presence in the US and enhance its portfolio of medical-grade skincare brands.
When is the deal expected to be announced?
Sources indicate that a deal could be announced in the coming days.

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