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Beauty-Focused SPAC Waldencast Announces $1.2Bn Combination With Obagi, Milk Makeup

Executive Summary

The special purpose acquisition company, led by a former group president at L’Oreal, seeks to build a “global best-in-class beauty and wellness multi-brand platform,” starting with dermo-cosmetics line Obagi and Milk Makeup, a cult favorite among Gen Zers.

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