Hero Cosmetics has been acquired by Church & Dwight, a consumer and specialty goods manufacturing and distribution company, for $630 million.

In a statement, Matthew T. Farrell, Church & Dwight’s Chief Executive Officer, said, “Mighty Patch represents a powerful addition to our existing Specialty Hair and Skin portfolio which includes Nair, Batiste, Viviscal, Flawless, and Toppik. The Mighty Patch brand is a problem/solution product with a strong position in a growing category. The total acne treatment category in tracked channels is approximately $700 million. The patch form has grown to 18% of the acne treatment category as more consumers transition away from lotions and ointments to a patch solution. The brand skews towards younger consumers and consistently has a high level of brand loyalty and repeat purchase.”

Ju Rhyu, Hero Cosmetic Chief Executive Officer and a 2022 Female Founder Awards honoree, is thrilled with the company’s acquisition by Church & Dwight.

“We signed the deal on August 31, but today definitely feels like the official day and it feels amazing to announce this to the public. I consider this a win not just for our company but a win for every entrepreneur and beauty founder out there,” Ju told Beauty News.

Hero Cosmetics is currently available in the U.S. via the brand’s website, online and at brick-and-mortar retailers including Amazon, Target, Ulta Beauty, and CVS. The brand has plans to expand within the U.S. and to international markets.

“We’re going to be expanding our retail distribution footprint very aggressively. The goal of Hero Cosmetics was always to get our products into the hands of anyone who needed them and for people to be able to buy them wherever they buy acne products. The fact that Church & Dwight is so strong with retail distribution in the U.S. and internationally was a big plus [for signing the deal with them],” said Ju.

Ju will remain CEO; Hero  Cosmetics’ co-founders Dwight Lee and Andy Lee will remain in their respective roles as Chief Operating Officer (COO) and Chief Design Officer (CDO).

The brand launched in 2017 and was one of the first skin care brands to introduce hydrocolloid acne patches to the U.S. market on a large scale. Since the brand’s launch, Hero Cosmetics has almost 30 SKUs with a price range from $12.99 to $32, and is the number one patch brand in the U.S. acne care market. As of June 20, 2022, Hero Cosmetics’ 12 months earnings before interest, taxes, depreciation, and amortization (EBITDA) was about $45 million with a 40 percent EBITDA margin. According to Business Wire, the brand’s annual net sales are projected to grow approximately 15 percent to $150 million.