Waldencast completes $460 million sale of Obagi Medical to Bridgepoint

Waldencast plc announced that it has closed the previously announced sale of its Obagi Medical dermatological skincare and aesthetics business to private‑equity investor Bridgepoint. The transaction is valued at up to $460 million, subject to customary adjustments for cash, debt, net working capital and transaction expenses at closing.

With the deal finalized, Waldencast repaid its outstanding senior term loan and will redirect resources toward growing its remaining brand, Milk Makeup, under President and Co‑Founder Mazdack Rassi. Executive Chairman Felipe Dutra will now serve as the company's principal executive and financial officer. Founders Michel Brousset and Hind Sebti, together with CFO Manuel Manfredi, are leaving Waldencast to lead Obagi Medical under Bridgepoint’s ownership.