Lion Capital Explores Sale of Skincare Brand Perricone MD
(Bloomberg) -- U.K. buyout firm Lion Capital is considering a sale of skincare brand Perricone MD that could fetch more than $200 million, people with knowledge of the matter said.
Lion Capital is working with an adviser for the potential sale of the anti-aging skincare brand, founded by U.S. celebrity dermatologist Nicholas Perricone, said the people, who asked not to be identified as the information is private. The adviser has started sounding out to potential suitors, the people said.
In any sale, Perricone MD will be joining other skincare brands in having new owners. U.S. personal care giant Colgate-Palmolive Co. in July agreed to buy French anti-aging skincare company Laboratoires Filorga Cosmetiques for 1.5 billion euros ($1.67 billion), while Japanese cosmetic company Shiseido Co. agreed in October to acquire U.S. organic skincare brand Drunk Elephant for $845 million.
Established in 1997, Perricone MD specializes in anti-aging products such as face lifting serum and neck firming cream, according to its website.
The London-based private equity firm bought Perricone MD from San Francisco-based TSG Consumer Partners in 2014 for an undisclosed amount, according to a press release at the time.
Deliberations are at an early stage, and it may not lead to a transaction, the people said. A representative for Lion Capital declined to comment, while a representative for Perricone didn’t immediately respond to requests for comment.
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