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EXCLUSIVE: Mustela Owner Acquires Babo Botanicals

French pharmaceutical business Laboratoires Expanscience has acquired New York-based Babo Botanicals LLC.
Babo, founded by beauty industry veteran Kate Solomon in 2010, makes mineral- and plant-based skin-care, sun-care and hair-care products that target babies, children and adults. The brand’s products are Environmental Working Group-certified and center around botanical ingredients. Terms of the deal were not disclosed, but industry sources said Babo has about $20 million in retail sales. The business had a minority investment from private equity firm JMK Consumer.
The baby segment has become a key launch area for beauty companies in recent years. Category newcomers include Made Of, a line of organic baby skin-care and other products; Petite Planet, a Johnson & Johnson line that launched in February, and Dr. Barbara Sturm Baby & Kids, which also hit the market earlier this year.
The global baby skin-care market did nearly $3.3 billion in sales for 2017, according to data from Euromonitor. The U.S. segment posted nearly $345 million in sales in 2017, Euromonitor data shows. The global baby sun- and hair-care markets are nearly $765 million and $1.9 billion, respectively, while in the U.S., those markets are nearly $225 million and $167 million, respectively.
Babo, one of the more established indie players, has been

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Via:: https://wwd.com/beauty-industry-news/beauty-features/exclusive-mustela-owner-babo-botanicals-1202893400/