By Abigail Summerville and Amy-Jo Crowley
NEW YORK/LONDON (Reuters) - London-listed investment firm Bridgepoint has agreed to buy RoC Skincare from Gryphon Investors, according to people with knowledge of the situation.
The deal was for around $500 million, one of the people said, speaking on condition of anonymity.
San Francisco-based Gryphon carved out the anti-aging skincare brand from Johnson & Johnson (NYSE:JNJ) Consumer Inc in 2019 for an undisclosed amount.
RoC did not immediately respond to a request for comment.
New York-based RoC Skincare was created in 1957 by French pharmacist Dr. Jean-Charles Lissarrague. Its products, which include retinol and eye creams, are sold globally through pharmacy, specialty and ecommerce channels.
Bridgepoint, which has 39.5 billion euros of assets under management, has made similar investments including its purchase of French cosmetics company Vivacy in 2022. It also owned HTL Biotechnology, a maker of skincare ingredient hyaluronic acid, which it sold in 2021 to investors led by Montagu for an undisclosed sum.
It is the latest skincare deal this year. Earlier this month cosmetics maker Puig said it bought a majority stake in German skincare brand Dr. Barbara Sturm for an undisclosed sum.
The Spanish company, which has said it is evaluating listing its shares publicly, said namesake founder Dr. Barbara Sturm would retain a minority stake in the skin and hair care maker, which was founded in 2014.
RoC was Gryphon’s second investment in the beauty sector after it bought indie color cosmetics brand Milani Cosmetics in June 2018.