Obagi acquired by Waldencast
Waldencast acquired Obagi, a skincare brand, on Nov 15, 2021.
Transaction summary
- Target
- Obagi
- Acquirer
- Waldencast
- Seller
- -
- Announced
- 2021-11-15
- Geography
- -
- Tags
- BeautyClinical SkincareCPGSkincare
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- -
- First added
- 2026-06-18
- Latest update
- 2026-09-29
Value and multiples
100% enterprise value
EUR 756M
100% enterprise value | EUR
Basis: FundComb estimate
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
Approx. $865M USD using FX date 2021-11-15 at 1.1444 EUR/USD.
EV / revenue
4.5x
Period not stated
Basis: FundComb estimate
EV / EBITDA
17.2x
EBITDA basis not stated
Basis: FundComb estimate
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Unknown: EUR 756M
Spreadsheet row supplies EUR 756m valuation and cites Rothschild; supplied public web evidence verifies the Waldencast/Obagi transaction but does not support an Obagi-specific EUR 756m value. Business Wire search result headline states a $1.2bn three-way business combination with Obagi and Milk Makeup, not an Obagi-only value.
Basis
- EUR 756m enterprise value is a FundComb estimate. Public sources reviewed confirm the transaction, but do not independently disclose every valuation input.
- Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
- Implied EV / revenue is 4.5x, calculated from EUR 756m value and EUR 168m revenue.
- Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
- Owner-defined 100% EV convention applied to the exact valuation_m cell in original spreadsheet candidate 84. Amount and currency unchanged; remains user-supplied, not independently confirmed. Previous source context: Spreadsheet row supplies EUR 756m valuation and cites Rothschild; supplied public web evidence verifies the Waldencast/Obagi transaction but does not support an Obagi-specific EUR 756m value. Business Wire search result headline states a $1.2bn three-way business combination with Obagi and Milk Makeup, not an Obagi-only value.
Source summary
No public source summary has been published for this transaction yet.