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Discloses $250 million plan for acquisition of the skincare brand
July 17, 2018
By: Jamie Matusow
Procter & Gamble has revealed its plans to acquire First Aid Beauty (FAB), an indie skincare brand sold at retailers including Sephora and Ulta, for a sum of about $250 million. FAB would likely operate as a wholly owned subsidiary, with founder and CEO Lilli Gordon and her team continuing at the helm. The global consumer goods manufacturer adds FAB to its portfolio of skincare brands that includes Olay and SK-II. “FAB brings to P&G a full line of prestige products that deliver skin health solutions specifically designed for sensitive skin and skin conditions, like eczema, redness and dryness – through fun, engaging, luxurious, feel-good formulas,” said P&G spokesperson Damon Jones.
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