- The combined company,
Waldencast plc, is expected to begin trading on Nasdaq under the ticker symbol “WALD” starting on July 28, 2022
- Waldencast will be led by Founder and CEO
Michel Broussetand Founder, COO and Chief Growth Officer Hind Sebti; Obagi SkincareCEO Jaime Castleand Milk Makeup CEO Tim Coolicanwill continue to lead their respective brands. Felipe Dutrawill serve as Executive Chairman of the Board of the Directors
Hind Sebti, Chief Growth Officer of Waldencast, added, “When Michel and I launched Waldencast, our passion and dream was to create a house of brands that helps evolve the beauty industry through a purpose-driven approach and philosophy and support brands aligned with our mission and values in their growth strategies. Our first step towards this goal starts with Obagi Skincare and Milk Makeup – beloved, purpose-driven, high-growth brands, anchored in some of the fastest-growing beauty categories. I could not be more excited to partner with both fantastic brands as they grow.”
Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility and market responsiveness, while maintaining each brand’s distinct DNA. This approach allows Waldencast to preserve the independence and entrepreneurial spirit of its brands as well as the ownership mindset of the brand teams. Waldencast’s global operating company will enable brands, including Obagi Skincare and Milk Makeup, to benefit from the operational scale of a multi-brand platform with expertise in managing global beauty brands at scale, a balanced portfolio to mitigate category fluctuations with asset light efficiency and the market responsiveness and speed of entrepreneurial indie brands.
About Obagi Skincare
Obagi Skincare is an industry-leading, advanced skin care line rooted in research and skin biology, refined with a legacy of 30 years’ experience. First known as leaders in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Skincare products are designed to diminish the appearance of premature aging, photodamage, skin discoloration, acne, and sun damage. More information about Obagi Skincare is available on the brand’s website, Facebook, Twitter and Instagram pages.
About Milk Makeup
Founded in 2016 by Mazdack Rassi,
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including with respect to the transactions among Obagi Skincare, Milk Makeup and Waldencast, including statements regarding the intended benefits of the transactions and the growth strategies of Waldencast, Obagi Skincare and Milk Makeup. These forward-looking statements generally are identified by the words “estimates,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of Waldencast, Obagi Skincare, and Milk Makeup, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to: (i) the inability to recognize the anticipated benefits of the transactions, (ii) the failure to receive certain governmental and regulatory approvals, (iii) changes in general economic conditions, including as a result of the COVID-19 pandemic, (iv) the outcome of litigation related to or arising out of the transactions, or any adverse developments therein or delays or costs resulting therefrom, (v) the ability to continue to meet Nasdaq’s listing standards (vi) costs related to the transactions, (vii) that the price of Waldencast’s securities may be volatile due to a variety of factors, including Waldencast’s, Obagi Skincare’s or Milk Makeup’s inability to implement their business plans or meet or exceed their financial projections and changes in the combined capital structure, (viii) the ability to implement business plans, forecasts, and other expectations after the completion of the transactions, and identify and realize additional opportunities and (ix) the ability of Obagi Skincare and Milk Makeup to implement their strategic initiatives and continue to innovate their existing products and anticipate and respond to market trends and changes in consumer preferences. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Waldencast’s definitive proxy statement/prospectus filed by Waldencast with the
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