P&G acquires First Aid Beauty

The US beauty brand has been bought for an estimated US$250m

via Instagram @firstaidbeauty

P&G has acquired First Aid Beauty (FAB) for approximately US$250m, according to WWD.

The premium skin care and make-up brand has been backed by private equity firm Castanea Partners since 2015, when it bought a minority stake.

The acquisition boosts P&G's beauty portfolio, which includes Olay and SK-II.

Lilli Gordon, FAB's founder, will reportedly continue as CEO.

She told WWD: “When I look at where we are today, it’s almost a point of inflection for the business.

“We’ve been growing very healthily, but in order to sustain that growth over the next ten years really takes a different mind-set.”

Since its inception in 2009, FAB has built up a loyal fan base and today has 207k followers on Instagram.

Dubbed as cruelty-free, clean beauty, the brand says it offers "effective, feel-good solutions and head-to-toe essentials for all skin types".

Skin care products include the Ultra Repair Cream Intense Hydration, Facial Radiance Pads and Hello FAB Ginger & Turmeric Vitamin C Jelly Mask.

The brand also sells colour cosmetics, with its Ultra Repair Tinted Moisturiser SPF 30 and Hello FAB Triple Protection Skin Tint SPF 30 among its best sellers.