The Balms Company is set to buy skin products company SkinProducts, a maker of face masks and cosmetics, a deal that could raise eyebrows among some observers of the cosmetics industry.
SkinProducts is headquartered in Washington, D.C., and the deal is expected to close by the end of the year, according to a person familiar with the matter.
It is not clear if the companies’ CEO, David J. Pomerantz, or any of their other executives will be included in the deal.
Skin Products has a total revenue of $2.6 billion and was valued at $2 billion at the close of business on March 28.
Pymantz has been a major figure in the cosmetics business and is the founder of the Cosmetics Group, a $5 billion global cosmetics company that includes brands like NARS and Marc Jacobs.
The company is led by J.H. Pomersons and has an existing relationship with J.
Pomerantz will remain chief executive of SkinProducts and will continue to lead the cosmetics group, the person said.
The new acquisition is the latest move by the cosmetics companies to focus on revenue.
Last month, for example, the companies said they would begin to sell the makeup line, SkinWorks, to retailers.
Last month, the cosmetics giants also announced that they were planning to sell $1.9 billion worth of skin-care products through their own company.