Key Takeaways: Waldencast has entered into a definitive agreement to sell its Obagi Medical dermatological skincare and aesthetics business to Bridgepoint.The transaction is valued at up to $460 million, marking a significant step in Waldencast’s strategy to strengthen its balance sheet and focus on Milk Makeup.Waldencast co-founders Michel Brousset and Hind Sebti will join Bridgepoint in a new strategic commercial partnership.Bridgepoint will acquire Obagi from Waldencast for $460 million, with the co-founders, Michel Brousset and Hind Sebti, departing Waldencast to join Bridgepoint.WHO: Founded in 1988, Obagi Medical is a pioneer in medical-grade skincare. Rooted in advanced research and skin biology, the brand offers a distinctive portfolio of both prescription and non-prescription products that are scientifically formulated and clinically proven to address the primary concerns of consumers in the professional channel, including premature aging, photodamage, skin discoloration, acne, and sun damage. The brand operates across North America, Europe, Asia, and the Middle East through dermatologists, aesthetic practitioners, and other healthcare professionals.Founded by Michel Brousset and Hind Sebti in 2019, Waldencast's ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling high-growth, purpose-driven brands. Waldencast's brand-led business model ensures proximity to its customers, business agility, and market responsiveness, while preserving each brand's distinct DNA.