Milk Makeup and Obagi Skincare owner goes public on Nasdaq

By Julia Wray | Published: 29-Jul-2022

Both brands are now grouped under the Waldencast portfolio with the combined company floating yesterday

Waldencast, the beauty and wellness operating platform, is now a publicly listed company.

The company began trading on the Nasdaq yesterday (28 July), a mere 24 hours after it announced the completion of its merger with both Obagi Global Holdings and Milk Makeup. The combined entity is now operating as Waldencast plc.

Waldencast CEO Michel Brousset said of the business’ bell ringing ceremony: “Today, Waldencast begins its journey as a global multi-brand beauty and wellness platform, empowering and supporting purpose-driven brands in their growth strategies, beginning with Obagi Skincare and Milk Makeup.”

News of the merger of hyperpigmentation treatment specialist Obagi Skincare and cult Gen Z beauty brand Milk Makeup with Waldencast to form a US$1.2bn beauty entity broke in November 2021.

Jaime Castle, CEO of Obagi Skincare, said: “Within the Waldencast platform, we’re gaining a culturally aligned partner who brings the operational expertise and resources to help us achieve our goals while remaining true to our values and mission.”

Meanwhile, Tim Coolican, CEO of Milk Makeup, added that joining the public markets “will allow us to accelerate our reach and impact and realise our ambition of becoming the number one beauty brand for the next generation”.

You may also like