Gryphon Investors will sell its majority stake in the iconic dermo-cosmetic brand RoC Skincare to Bridgepoint Europe VII (BE VII) in a deal reported by Reuters to around $500 million.
WHO: Founded in Paris in 1957 by Dr. Jean-Charles Lissarrague, RoC is one of the largest independent skincare brands globally, offering clinically proven, dermatologist-backed skin health solutions focusing on aging skin. With a rich history spanning over 65 years, RoC is a pioneer brand of the dermo-cosmetic world with its track record of industry-first innovations, including the first hypoallergenic skincare products, the first broad-spectrum UV protection, and the first stabilized Retinol products. Today, RoC’s products are sold globally, including in the US, Canada, France, the UK, the rest of Europe, Australia, and China.
Bridgepoint, which has 39.5 billion euros ($42.9 billion) 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. Bridgepoint Europe VII (BE VII) is a fund focused on investing in mid-market growth businesses.
WHY: Bridgepoint’s strategic investment in RoC builds on the firm’s growing track record of supporting businesses in the wider dermatology ecosystem, including HTL, a leading producer of high-quality hyaluronic acid; and Vivacy, a global personal healthcare company. RoC will benefit from Bridgepoint’s strong European presence and deep expertise in the dermatology sectors to accelerate its next phase of growth and development in its heritage European markets and in France.
IN THEIR OWN WORDS: Fernando Acosta, CEO of RoC Skincare, said, “With Bridgepoint's deep expertise in the dermatology sector and its strong European presence, RoC is poised to capitalize on the promising growth opportunities that lie ahead. I would like to thank the RoC team and Gryphon for their support over the past few years. Through the hard work and innovation of RoC's talented team, we've become one of the largest independent skincare brands globally, while upholding our commitment to delivering the best clinically proven skin health solutions.”
Fabrice Turcq, Partner at Bridgepoint, commented, "Under Fernando’s leadership, RoC has become an impressive standalone business with a rich European heritage and dermatology expertise. The Company’s unique, clinically proven products for aging skin conditions are a highly appealing customer proposition with significant growth opportunities. With Bridgepoint’s support, RoC is poised to accelerate growth in Europe and beyond, strengthen its online presence, and expand its product offering.”
Vincent-Gael Baudet, Head of Bridgepoint Europe in France, said, "The project developed with Fernando and his team, along with months of constructive dialogue between Bridgepoint and Gryphon, has culminated in a transaction marking a new phase of acceleration for the Company. We look forward to leveraging our international network and deep expertise in working with consumer and aesthetics businesses to help scale one of the most iconic brands in the dermo-cosmetic world.”
Matt Farron, Partner at Gryphon, said, “We are proud to have supported RoC’s growth as an independent leader in the skincare category and grateful for the efforts of RoC’s tremendous management team. We believe the Company will continue to thrive under Bridgepoint, as the Company benefits from investments in product innovation and clinical efficacy. RoC is a great example of Gryphon’s ability to use its integrated deal and operations model to build leading companies.”
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