Colgate-Palmolive Co. said Dec. 18 that it agreed to purchase skin care brands PCA Skin and EltaMD, with combined sales of $100 million in 2017, marking the company's foray into the professional skin care market.
Both brands, sold primarily in professional skin care offices and online, are distributed in the U.S., China and other international markets.
Chairman, President and CEO Ian Cook said, "We are delighted that these high-growth, high-margin brands will strengthen our global personal care business. Their complimentary product portfolios and sales forces, strong professional support and similar distribution channels will advance Colgate's presence in the premium global skin care category."
Details of the deals have not been disclosed, but the transactions are expected to close in the first quarter of 2018 and are subject to customary closing conditions and U.S. antitrust clearance. The personal care products giant intends to operate the two businesses independently.