Blackstone explores sale of ZO Skin Health, sources say

By Abigail ‌Summerville

NEW YORK, ​Sept ​8 (Reuters) - Investment firm Blackstone is looking to sell medical-grade ‌skincare company ZO Skin Health, which ⁠could be valued at around $2 billion in ‌any deal, according to ‌people familiar with the matter.

The firm is working with investment bankers ​at Citigroup and Raymond James on the sale, which is ⁠at an early stage, the people said, requesting ​anonymity because the matter is private.

Blackstone and Citi declined to ​comment. ZO and Raymond James ‌did not immediately respond to comment requests.

Dermatologist Dr. Zein ⁠Obagi founded the brand in 2007. ZO sells skincare products including cleansers, serums, exfoliators, ⁠and toners that are distributed by physicians and ​skincare professionals.

The sale process comes at a time when many strategic buyers are prioritizing ‌clinically backed, physician-distributed skincare brands like ZO, because of ‌their efficacy and steadier demand ⁠versus over-the-counter products.

(Reporting ‌by Abigail ​Summerville in New York; Editing by David French and Edward ‌Tobin)

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