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Shiseido to Acquire Dr. Dennis Gross Skincare

Highly Strategic Transaction Adds Dermatologist-led Prestige Skincare Brand to Shiseido’s Global Portfolio

TOKYO, December 22, 2023--(BUSINESS WIRE)--Shiseido Company, Limited (The Prime Market of the Tokyo Stock Exchange: 4911) ("Shiseido", "Company") today announced that Shiseido Americas Corporation ("Shiseido Americas"), a subsidiary of Shiseido, has signed a definitive agreement to acquire DDG Skincare Holdings LLC, the owner of Dr. Dennis Gross Skincare brand which offers dermatologist-led, science-based prestige skincare that has revolutionized the beauty industry by bringing high-level products to consumers everywhere.

In support of Shiseido’s corporate mission, "BEAUTY INNOVATIONS FOR A BETTER WORLD", the acquisition of Dr. Dennis Gross Skincare is a synergistic complement to the Company’s skin beauty strategic framework and global portfolio of prestige brands. With the addition of Dr. Dennis Gross Skincare, Shiseido seeks to accelerate and strengthen its core prestige skincare business which includes brands SHISEIDO and Clé de Peau Beauté.

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Dr. Dennis Gross Skincare was launched in 2000 by former skin cancer researcher and practicing dermatologist, Dr. Dennis Gross, and his wife, Carrie Gross. Dr. Dennis Gross Skincare’s best-in-class products are distinctive and highly effective, leveraging active ingredients with proven skincare benefits. Dr. Dennis Gross Skincare values industry-changing innovation and has a philosophy that is rooted in research, dermatology, and technology.

As part of the Shiseido portfolio, Dr. Dennis Gross Skincare will leverage the Company’s vast global support network, commercial experience, and R&D expertise, enabling the brand to accelerate its ambitious growth plans. Shiseido’s proven expertise in skincare will facilitate Dr. Dennis Gross Skincare’s long-term growth trajectory. Additionally, this acquisition bolsters the Company’s geographic diversification and reinforces its investment in the Americas, with an aim to accelerate growth and increase profitability in the region.

Masahiko Uotani, Chairman and CEO of Shiseido, said, "This transaction is well-aligned with Shiseido’s 2030 goal of becoming a personal beauty wellness company that supports people in realizing unique beauty and wellness throughout their lives. Dr. Dennis Gross Skincare is the perfect complement to our global portfolio of prestige brands as their core values are aligned with ours in terms of their scientific and innovative approach to beauty and our people-first culture. We are thrilled to welcome the Dr. Dennis Gross Skincare team to the Shiseido family, and I am confident Dr. Dennis Gross Skincare will accelerate our growth in the Americas, a region that has experienced strong business performance, thanks to our portfolio of exceptional brands."

Shiseido Americas President and CEO and Global M&A Leader for Shiseido, Ron Gee, added, "We have long-admired what Carrie Gross has built through innovation and disruption of the beauty industry as well as the unique way in which the brand delivers credible and effective products through research, accessibility and education. We are also excited to work with Dr. Dennis Gross, a practicing, world-renowned, board-certified dermatologist whose work has attracted a loyal and highly engaged consumer base. With our deep commitment to our teams and our consumers, I know Dr. Dennis Gross Skincare will thrive in the Shiseido portfolio."

Dr. Gross, Co-Founder of Dr. Dennis Gross Skincare and Chief Science Officer and Carrie Gross, Co-Founder and Chief Executive Officer said, "We launched Dr. Dennis Gross Skincare in 2000 with the mission of making a difference in the lives of all people everywhere by helping them achieve healthier skin. We’ve built an incredible brand with a deep clinical foundation and loyal consumer base, and we are thrilled to have found a partner that shares our values. With its long and rich heritage blending beauty with science, Shiseido is the ideal home for Dr. Dennis Gross Skincare, and we look forward to partnering with the Shiseido team as we continue developing innovative products and skincare solutions that deliver visible results."

The transaction was led by Shiseido Americas and the New York-based Shiseido Global M&A team, in close coordination with Shiseido Company, Limited, the Company’s headquarters. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the first quarter of 2024. Terms of the transaction were not disclosed.

Jones Day served as Shiseido Americas’ legal counsel. Raymond James served as Dr. Dennis Gross Skincare’s exclusive financial advisor. Cowan, DeBaets, Abrahams & Sheppard LLP served as legal counsel to Dr. Dennis Gross Skincare, and Morrison Foerster served as legal counsel to certain of the shareholders.

About Shiseido Company, Limited
Shiseido was founded in 1872 as the first private Western-style pharmacy in Japan. The business gradually evolved into a cosmetics company, offering people the most advanced technology and the finest aesthetics available across the world. Now known globally as the premier cosmetics company with roots in Japan, the name Shiseido has come to represent the world’s highest standards of quality. Fiercely contemporary and innovative after over 150 years in business, Shiseido Group brands are now sold in over 120 countries and regions. With its new Medium-to-Long-Term Strategy "SHIFT 2025 and Beyond", Shiseido aims to become a "PERSONAL BEAUTY WELLNESS COMPANY" by 2030, realizing its corporate mission, BEAUTY INNOVATIONS FOR A BETTER WORLD. For more information, please visit https://corp.shiseido.com/en/.

About Dr. Dennis Gross Skincare
Launched in New York City in 2000, Dr. Dennis Gross Skincare is a skincare brand founded by former skin cancer researcher and practicing dermatologist Dr. Dennis Gross along with his wife Carrie Gross. Together, they disrupted the beauty industry by asking people to peel daily with their now-iconic Alpha Beta® Daily Peels. With innovative, patented formulas incorporating simple, straightforward instructions, clients became instant believers. Today the Alpha Beta Peel is the #1 at-home peel in the US and a staple in the beauty cabinets of top celebrities, aestheticians, and makeup artists. Dr. Gross continues to bring innovations and expertise from the dermatology practice to retail consumers around the globe in the form of easy-to-use at home products designed to work together in customizable regimens to treat multiple concerns. For more information, visit the brand on Instagram, Facebook or at drdennisgross.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231222575305/en/

Contacts

For Shiseido Americas
Jadzia Zielinski Tirsch
Jonathan Leacock
jtirsch@sac.shiseido.com
jleacock@sac.shiseido.com
+1 212-805-2357
+1 212-805-1299

OR

FGS Global
Emily Claffey/Danya Al-Qattan/Bridget Nagle
Shiseido@fgsglobal.com
+1 212-687-8080

For Dr. Dennis Gross Skincare
Alyssa Keller D'Amico
Director of Content & Communications
alyssa.keller@dgskincare.com