Galderma /
ZO Skin Health
Galderma agrees to buy Blackstone-backed ZO Skin Health
Source for the buyer, seller and target: Galderma
For the buyer, seller and target.
buyer and target
“Galderma will acquire 100% of ZO Skin Health for an enterprise value of 1.5 billion USD in an all-cash transaction, subject to customary adjustments, and will be funded through a combination of existing cash reserves and bank financing.”
seller
“Zug, Switzerland and Irvine, California – October 14, 2026 – Galderma (SIX: GALD) today announced that it has signed an agreement to acquire ZO ® Skin Health, a leading physician-dispensed skincare brand built on clinical science and protocol-based daily care, from its shareholders, including funds managed by Blackstone Tactical Opportunities (“Blackstone”) and the Obagi family.”
Published 14 Oct 2026
Open the sourceWhat happened
Galderma signed an agreement to buy ZO Skin Health, the Irvine, California physician-dispensed skincare brand founded by dermatologist Dr. Zein Obagi, from shareholders that include funds managed by Blackstone Tactical Opportunities and the Obagi family. [01]
The all-cash deal values ZO Skin Health at an enterprise value of 1.5 billion USD, and Galderma expects it to close in the fourth quarter of 2026 or early 2027, pending regulatory approvals. ZO Skin Health had net sales of about 330 million USD in the twelve months to June 2026. [01]
The source
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Galderma agrees to buy Blackstone-backed ZO Skin Health
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Expected close
“The all-cash deal values ZO Skin Health at an enterprise value of 1.5 billion USD, and Galderma expects it to close in the fourth quarter of 2026 or early 2027, pending regulatory approvals”
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