Blackstone to Sell ZO Skin Health to Galderma for $1.5 Billion

03:47 AM EDT, 10/14/2026 (MT Newswires) -- Blackstone (BX) has agreed to sell ZO Skin Health for $1.5 billion to Galderma, the buyer said Wednesday. The Swiss-based dermatology conglomerate Galderma will acquire 100% of ZO Skin Health, with the buyout funded by cash and bank financing, in a deal expected to close in Q4 or early 2027, the company said. The purchase is expected to be slightly dilutive to Galderma core EBITDA margin in 2027, and to achieve a margin comparable with the company's average from 2028 onwards, Galderma said. The acquisition of the ZO Skin Health, in the doctor-dispensed skincare category, is expected to be core EPS neutral in the first full year following closing, and to be in-line with a commitment to an investment-grade credit rating, Galderma said.