Asian American founder sells anti-acne brand for $630 million
By Carl Samson
September 7, 2022
Hero Cosmetics, an award-winning acne-focused skincare brand, has been acquired by manufacturing behemoth Church & Dwight for $630 million this week.
Co-founded by Ju Rhyu in 2017, Hero Cosmetics is best known for its Mighty Patch, a hydrocolloid sticker that is claimed to heal acne breakouts without popping pimples.
The product, which reportedly gets sold every three seconds, has been the top skincare product on Amazon for several quarters. Hero Cosmetics also has a slew of other products, including cleansers, toners and moisturizers.
“I’ve loved seeing how our brand and products positively impact peoples’ lives and that impact only grow with time,” Rhyu told Forbes. “We get many reviews and feedback about how Hero products have been nothing short of life-changing.”
Rhyu, who battled breakouts herself, realized the wonders of hydrocolloids while she lived in Seoul several years ago. Traditionally used in wound care, the waterproof dressing has been proven to promote healing and protect new tissue from foreign contamination.
Hero Cosmetics’ notable growth eventually sparked internal talks of an acquisition. On Tuesday, Church & Dwight, which is behind brands such as Arm & Hammer, Nair, OxiClean and Trojan, announced that it acquired Hero for $630 million.
“It’s the privilege of a lifetime to be able to announce this transaction. I am so proud of the company and brand we’ve built,” Rhyu wrote. “We’ve come far since our humble beginnings — we created a category, we won the love of consumers, we built an amazing brand, business and team.”
“It started with 1 sku, 1 channel, 3 founders. Now, we have a whole product portfolio, best-in-class omnichannel strategy, an A+ team of Heroes,” she added.
Hero Cosmetics is Church & Dwight’s first acquisition in 2022, according to Women’s Wear Daily. Rhyu will retain her position as the brand’s chief executive officer, while cofounders Dwight Lee and Andy Lee will continue to serve as chief operating officer and chief design officer, respectively.
“Hero and its Mighty Patch brand represent a powerful addition to our existing Specialty Hair and Skin portfolio,” Matthew T. Farrell, chief executive officer of Church & Dwight, said in a statement. “The brand skews toward younger consumers and consistently has a high level of brand loyalty and repeat purchase.”
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