Galderma to Acquire US Skincare Products Company ZO Skin Health in $1.5 Billion Deal

04:08 AM EDT, 10/14/2026 (MT Newswires) -- Galderma Group (GALD.SW) will acquire US-based physician-dispensed skincare products company ZO Skin Health for an enterprise value of $1.5 billion. The Swiss-listed dermatology company will purchase ZO Skin from its shareholders, including funds managed by Blackstone Tactical Opportunities and the Obagi family, according to a Wednesday disclosure. The acquisition will expand Galderma's portfolio, which includes Cetaphil and Alastin, with ZO Skin's daily multi-step products complementing Alastin's regenerative skincare lineup. "ZO Skin Health brings strong clinical credentials, a distinctive protocol-based approach and a trusted position among dermatologists and plastic surgeons. We see significant opportunities to reignite its growth through investment in innovation and commercial reach," Galderma Chief Executive Flemming Ørnskov said. The acquisition of ZO Skin, which generated net sales of $330 million in the 12 months ended June 30, is expected to be core EPS neutral in the first full year following closing. Galderma will fund the all-cash deal using existing cash reserves and bank financing. Subject to regulatory approvals and other closing conditions, the transaction is expected to close in the fourth quarter of 2026 or early 2027. The company's shares edged down during early trading.