Obagi and Milk Makeup went public via a SPAC merger with Waldencast Acquisition in a $1.2bn deal.

Cosmetics manufacturers Obagi and Milk Makeup, went public via a SPAC merger with Waldencast Acquisition, a special purposes acquisition company, in a $1.2bn deal. “Waldencast’s ambition to build a global best-in-class beauty and wellness company that embraces conscious, purpose-driven brands is aligned with Obagi’s purpose, vision and values, making Waldencast an ideal fit. I look forward to working with Michel and the team as we continue to develop effective, science-based skin care that includes and embraces the full spectrum of beauty and self-care," Jaime Castle, Obagi CEO.