Following its majority investment in hair growth brand DS Laboratories, pharmaceutical company Megalabs USA has been shopping again. This time it has acquired Geologie, a skin, hair and body care brand sold at Target.
Terms of the deal were not disclosed, apart from that cofounders Dave Skaff and Nick Allenwill will exit the business.
Launched in 2018 in partnership with Dr. Steve Xu, a dermatologist, Geologie attracted a heavy male audience with its skin care products including Retinol Night Cream, $59; Natural Deodrant, $19, and Tone Control Face Cream, $39.
Most recently, it expanded into more than 900 Target doors with Clear System, an acne line.
“We are thrilled to welcome Geologie into our portfolio — an innovative brand at the forefront of wellness and health for a new generation of discerning consumers,” said Fabian Rivero, chief executive officer of Megalabs USA. “With Geologie, and through our recent investments in clinically proven, high-quality brands, Megalabs is strengthening its leadership in dermatology by delivering scientifically advanced solutions for both skin and hair care — including effective, benzoyl peroxide-free acne treatments that reflect our commitment to clean, safe and forward-thinking formulations.”
“This acquisition marks a big milestone for the brand,” Allen said. “Megalabs is the perfect steward for Geologie’s next phase of growth, while continuing our philosophy of clinically proven products that are simple and effective.”
