THE WHAT? Waldencast has agreed to sell its Obagi Medical dermatological skincare and aesthetics business to private equity firm Bridgepoint in a transaction valued at up to US$460 million.
THE DETAILS The sale marks a strategic shift for Waldencast, which acquired Obagi Medical in 2022 and has since expanded the brand’s physician-dispensed skincare business, digital presence and international footprint. Founded in 1988, Obagi Medical offers prescription and non-prescription skincare products targeting concerns such as ageing, acne, hyperpigmentation and sun damage through dermatologists and aesthetic practitioners. In 2025, the company expanded into injectable aesthetics through the acquisition of Novaestiq, leading to the launch of the FDA-approved Obagi Saypha® MagIQ™ dermal filler range. Following the transaction, Waldencast founders Michel Brousset and Hind Sebti, along with selected management team members, will leave Waldencast to lead Obagi Medical alongside Bridgepoint. Waldencast plans to use the proceeds to repay outstanding debt and focus on growing Milk Makeup, which will remain its sole operating beauty brand.
THE WHY? The divestment is intended to strengthen Waldencast’s balance sheet, simplify its portfolio and enable greater investment behind Milk Makeup’s global growth ambitions, while providing Obagi Medical with dedicated ownership focused on expanding its position in the dermatology and aesthetics market.
Source: GlobeNewswire
