Cult skincare brand First Aid Beauty has been snapped up by Procter & Gamble. According to press reports, P&G, which counts Olay, Aussie, Herbal Essences and SK-II as part of its portfolio, stumped up an estimated US$250 million to secure its new acquisition.
Lilli Gordon, First Aid Beauty’s founder and CEO, said the move will allow the brand to focus on increasing its global presence and explore product development options.
Since being founded in 2009, First Aid Beauty has developed a reputation for science-based skincare and makeup that spans everything from moisturizers and serums to acne clearing pads and sunscreen. Products are developed to fit the needs of sensitive skin and conditions such as eczema, redness and dryness. The collection is sold online, as well as at Sephora and Ulta Beauty.