Waldencast Announces Completion of the Sale of Obagi Medical to Bridgepoint

LONDON, July 30, 2026 (GLOBE NEWSWIRE) -- Waldencast plc (NASDAQ: WALD) (“Waldencast” or “the Company”) today announced that it completed the previously announced sale of its Obagi Medical dermatological skincare and aesthetics business (“Obagi Medical”) to Bridgepoint, one of the world's leading mid-market investors, in a transaction valued at up to $460 million (subject to negotiated deductions and customary adjustments based on closing cash, closing indebtedness, net working capital and transaction expenses), marking a significant step in Waldencast’s strategy to strengthen its balance sheet and focus on accelerating the global growth of Milk Makeup.

As previously announced, in conjunction with the closing of the transaction, Waldencast repaid all of its outstanding senior term loan facility and will continue to invest in its remaining brand, Milk Makeup, as a leading color cosmetics business, under the leadership of President and Co-Founder Mazdack Rassi, and oversight from Executive Chairman, Felipe Dutra. Any further allocation of transaction proceeds remains subject to review by the Board of Directors of the Company.