P&G Acquires First Aid Beauty

Procter & Gamble has acquired First Aid Beauty for an estimated $250 million. The prestige skin-care brand was founded in 2008 by Lilli Gordon and is centered around healing skin. The line has several collections that target skin concerns like aging, acne, dryness, dullness and redness. Products are priced between $12 for Ultra Repair Lip Therapy to $58 for FAB Skin Lab Retinol Serum 0.25% Pure Concentrate. Terms of the deal were not disclosed, but industry sources said P&G paid around $250 million for the brand. First Aid Beauty is said to have about $50 million in net sales. P&G declined to comment on numbers. “When I look at where we are today, it’s almost a point of inflection for the business,” said Gordon, who will remain in charge of the brand as chief executive officer. “We’ve been growing very healthily, but in order to sustain that growth over the next 10 years really takes a different mind-set.” Under P&G, FAB will be able to increase its global footprint “much faster and so much more effectively,” Gordon noted, and gain access to more research and development resources. “It’s going to be like letting me loose in a candy shop,” Gordon said. Right now, FAB

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