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NEW YORK, Sept 8 — 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)
