Gryphon Investors, a San Francisco-based middle-market private equity firm, acquired RoC Skincare from Johnson & Johnson Consumer. Terms of the deal were not disclosed, but according to WWD, industry sources have estimated RoC has roughly $100 million in retail sales. This transaction is Gryphon’s second investment in the beauty sector after the firm acquired indie color cosmetics brand Milani Cosmetics in June 2018.
“The divestiture of RoC is consistent with our Global Consumer Products portfolio strategy and reflects a disciplined approach to managing global brand mix and supporting growth brands in core categories and need states,” a Johnson & Johnson spokeswoman said.
RoC was created in 1957 by French pharmacist Dr. Jean-Charles Lissarrague, who believed that skincare solutions should be proactive, positive, and a pleasurable approach to beauty, and has a 60+ year history of revolutionizing the skincare industry. RoC has more than 75 products in their portfolio with distribution in the US, Europe, and Latin America through key mass, drug, club, specialty, e-commerce, and pharmacy channels. Key domestic retailer partners include Walmart, Target, CVS, Walgreens, Costco, Ulta, and Amazon.
The brand under Gryphon’s management plans to modernize RoC’s communications, and expand the product lineup with new anti-aging ingredients with an eye to Asian expansion.
Matt Farron, Principal at Gryphon, said in a statement, “RoC has a rich history of skincare solutions innovation stemming from its French pharmacy roots. As the first brand to stabilize Retinol, which is one of the top U.S. dermatologist-recommended cosmetic ingredients for improving the appearance of aging skin, RoC continues to be one of the largest brands solely focused on anti-aging skincare products. By leveraging the brand’s French pharmacy heritage and track record of clinically proven innovation, we see numerous opportunities to expand RoC’s product offering to establish it as a brand with complete skincare solutions leading to increased market share.”
