Key facts
- Waldencast agrees to sell Obagi Medical.
- The sale is valued at up to $460 million.
- The acquisition is expected to close in Q3 2023.
Waldencast's decision to sell Obagi Medical is part of a broader trend of portfolio adjustments within the beauty and skincare industry. Companies often divest non-core assets to focus on strategic growth areas or to unlock shareholder value. The valuation of Obagi Medical will provide insight into the current market appetite for established skincare brands.