By Barca via adobe stock
38-year-old professional skincare brand, Obagi Medical, was sold to private equity firm, Bridgepoint Group, for up to $460 million on July 1, 2026, according to reports.
Waldencast, who acquired both Obagi and Milk Makeup in a $1.2 billion three-way transaction in November of 2021, agreed to sell the Texas-based dermatological skincare business at a deal that reportedly represents a 2.8X multiple on the brand’s $161.6 million in sales and a 23.7X multiple on its $19.4 million in adjusted earnings before interest, taxes, depreciation and amortization
Related: Waldencast To Acquire Obagi and Milk Makeup Brands
Obagi's acquisition from Bridgepoint underscores private equity's interest in the mergence of skincare and aesthetics and comes at time where the launch of Obagi's Saypha MagIQ — a hyaluronic acid dermal filler — has effectively doubled the brand’s addressable market.
“We think of our approach as fundamentally rooted in what consumers want: the medical credentials, professionalization and clinical evidence that comes from Obagi,” says in an interview with Beauty Independent. “The reason why doctors not only recommend, but also sell Obagi is not because they saw it on TikTok. They do it on the basis of the performance of the product, clinical testing and that it fundamentally makes a difference. Now, it’s increasingly becoming a household name.”
