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L’Oréal USA to Acquire Pacific Bioscience Laboratories Innovator of Clarisonic
L’Oréal USA and Pacific Bioscience Laboratories, Inc. (PBL) announced a signed merger agreement between L’Oréal USA and PBL. Established in 2001, PBL developed its patented technology, enabling a series of highly popular products under the Clarisonic brand that redefined consumers’ approach to skin care. These include the Clarisonic Classic, Clarisonic Mia, Clarisonic PLUS and PRO, and the Clarisonic Opal Sonic Infusion System. The merger, subject to the approval of PBL’s shareholders and other closing conditions, is expected to close in December, 2011. L’Oreal USA has received significant shareholder commitments to vote in favor of the acquisition, including Rosewood Capital and David Giuliani. PBL’s senior management team has committed to remain with L’Oréal USA to maintain the continuity of excellence.
PBL has grown rapidly since the Clarisonic launch in 2004. The company’s broad distribution network covers six diverse and interdependent channels: dermatologists and cosmetic surgeons, spas, prestige retail, e-tail, television shopping, and clarisonic.com. PBL has 300 employees and recently relocated to its new corporate headquarters and manufacturing facility in Redmond, Washington. This state-of-the-art facility significantly increases production capacity of Clarisonic products, currently sold throughout the US as well as in the UK, Australia, Mexico, Canada and the Far East.
“L’Oréal brings powerful marketing, distribution, and R&D synergy to the Clarisonic agenda,” said David Giuliani, CEO and co-founder of PBL. “L’Oréal shares our vision for ingenuity and dedication to quality. Combining forces, we’re confident Clarisonic will rapidly achieve its global mission, to provide the power to change the future of your skin.”
“This is a strategic acquisition for L’Oréal,” said Frédéric Rozé, President and CEO of L’Oréal USA. “Devices are rapidly emerging globally as an important new skin care category. Clarisonic is successful and the fast growing premium brand in this segment. We think that together with PBL, we will create in Redmond an outstanding center of innovation for L’Oréal. Upon closing of the transaction, the Clarisonic brand will join the portfolio of L’Oréal Luxe and benefit from its worldwide presence.”
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