17 July 2018 - Deborah Wilkes
Procter & Gamble has acquired US-based skincare specialist First Aid Beauty.
A spokesperson for Procter & Gamble told OTCToolbox that First Aid Beauty was "a great fit" with the company's Beauty business, which houses the Olay and SK-II brands.
First Aid Beauty offered a full line of prestige products that delivered skin health solutions for sensitive skin and skin conditions such as acne, eczema and dryness, added the spokesperson.
Procter & Gamble said First Aid Beauty would continue to be run by founder Lilli Gordon and the current team. "Procter & Gamble will support them with expertise to help drive continued growth of the brand," added the company.
Financial terms of the deal were not disclosed but media reports suggest Procter & Gamble paid around USD250 million for First Aid Beauty.
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