Pharmaceutical company Megalabs USA has acquired Geologie, a skin, hair and body care brand.
This follows Megalabs’s majority investment in hair growth brand DS Laboratories.
The terms of the deal were not disclosed, but it was stated that Geologie co-founders Dave Skaff and Nick Allen will be stepping down from the business.
Founded in 2018 in collaboration with dermatologist Dr Steve Xu, Geologie garnered interest from a predominantly male audience with its skin care offerings.
Popular items included the Retinol Night Cream, Natural Deodorant and Tone Control Face Cream.
More recently, the brand expanded its presence with the launch of Clear System, an acne care line, now available in over 900 Target stores.
Fabian Rivero, CEO of Megalabs USA, commented: “We are thrilled to welcome Geologie into our portfolio as an innovative brand at the forefront of wellness and health for a new generation of discerning consumers.
“With Geologie, and through our recent investments in clinically proven, high-quality brands, Megalabs is strengthening its leadership in dermatology by delivering scientifically advanced solutions for both skin and hair care including effective, benzoyl peroxide-free acne treatments that reflect our commitment to clean, safe and forward-thinking formulations.”
In response to the acquisition, co-founder Allen stated: "This acquisition marks a significant milestone for the brand.
“Megalabs is the ideal partner to guide Geologie through its next phase of growth, while continuing our philosophy of clinically proven products that are simple and effective."
Megalabs operates across more than 20 countries and offers a portfolio of 1,800 products.
The company also has 18 manufacturing facilities and seven research and development centres.
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