Private equity firm takes majority stake in ZO Skin

Blackstone committed to growing the brand globally.

The Covid-19 pandemic has triggered a skincare boom and the spotlight on professional brands has intensified.

Last week, THG acquired Perricone MD and now Blackstone, the world’s largest private equity firm, has bought a majority stake in ZO Skin Health through its Tactical Opportunities division.

Blackstone has US$545 billion in assets under management and its wide-ranging portfolio of investments stretches from food to banking. The US firm has 13 overseas offices, including one in Sydney.

Dr Zein Obagi, the founder of ZO Skin Health, is one of the most celebrated skincare experts in the world and a leading authority on chemical peels.

The Syrian-born dermatologist moved to the US in the early 1980s and developed the Obagi Nu-Derm System of advanced skincare solutions. In 1988, he introduced the world-beating Obagi Peel before selling his company, WorldWide Products, to an investor group in 1997.

The company was renamed Obagi Medical Products and Dr Obagi retained his position as medical director until 2006.

In 2007, he founded a new luxury skincare company, ZO Skin Health. Three years ago, the brand launched into the franchise business in the US, Egypt and Dubai.

Dr Obagi’s formulas are based on his philosophy of creating healthy skin, not simply treating damage or diseases. ZO Skin Health products are available worldwide and in Australia through leading websites and www.zoskinhealth.com.au.

ZO Skin health is one of the fastest-growing brands in the rapidly expanding professional skin care market, says Todd Hirsch, senior managing partner at Blackstone.

According to Dr Obagi: “The Blackstone team supports both my vision of delivering healthy skin to all people and the business potential of the company. Together, we are committed to growing the brand globally and are excited for the next stage of growth for ZO”.

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