Japan’s Shiseido to buy DDG Skincare Holdings for $450 mil.
Shiseido Co. said Saturday that it will acquire U.S. cosmetics company DDG Skincare Holdings LLC for $450 million to bolster sales of high-end skincare products as part of efforts to diversify its businesses.
DDG Skincare Holdings is known for its exfoliators sold under the Dr. Dennis Gross Skincare brand launched by a practicing dermatologist. The company’s sales are estimated at $94 million in 2023, up 18 percent from a year earlier.
The Japanese company is looking to reduce its dependence on China as sales in the world’s second-largest economy are faltering. Chinese consumers are steering c...