Wow, huge news just broke in that leading beauty device brand Clarisonic was just acquired by my good friends at L’Oreal. Very interesting to see how beauty gadgets are going mainstream, no? The below from WWD:
L’Oreal Buys Pacific Bioscience Laboratories
L’Oréal USA has signed a merger agreement to acquire Pacific
Bioscience Laboratories, the manufacturer and marketer of the
Clarisonic series of electronic beauty devices, one of the hottest
brands in the market.
“This is a strategic acquisition for L’Oréal,” said Frédéric Rozé,
president and chief executive officer of L’Oréal USA. “Devices are
rapidly emerging globally as an important new skin care category.
Clarisonic is successful and the fastest-growing premium brand in this
segment.” While declining to discuss the purchase price or company
sales, industry sources estimated that Clarisonic generated retail
sales of more than $100 million in 2010.
The deal is subject to the approval of Pacific Bioscience
Laboratories’ shareholders and other conditions and is expected to
close in late December. According to L’Oréal USA, it has received key
shareholder commitments to vote in favor of the acquisition, including
from Rosewood Capital and David Giuliani. Clarisonic’s management team
has committed to transition with the company to maintain continuity.
Referring to Clarisonic’s headquarters in Washington State, Rozé
added, “We think that together with Pacific Bioscience Laboratories,
we will create in Redmond an outstanding center of innovation for
L’Oréal.” He noted that after the deal’s closing, the Clarisonic brand
will be housed in the portfolio of brands in the Luxury Products
Division, under the leadership of president Carol Hamilton.
The brand was launched in 2004 and the company has since spun a
distribution network spanning six channels, as diverse as the offices
of dermatologists and cosmetic surgeons, spas, prestige retail, e-tail
and television shopping, as well as clarisonic.com. Pacific Bioscience
Laboratories has 300 employees and recently relocated to its new
corporate headquarters and manufacturing facility in Redmond. This
facility significantly increases production capacity of Clarisonic
products, currently sold throughout the U.S. as well as in the U.K.,
Australia, Mexico, Canada and the Far East.
“L’Oréal brings powerful marketing, distribution, and R&D synergy to
the Clarisonic agenda,” said David Giuliani, ceo and co-founder of
Pacific Bioscience Laboratories. “L’Oréal shares our vision for
ingenuity and dedication to quality.”