International dermatology innovator Galderma is relocating its U.S. headquarters to downtown Dallas, the Dallas Morning News reports. Galderma U.S., which is moving to two floors in the Trammell Crow Center in the Arts District, expects about 400 of its employees to move to Dallas next summer.
The U.S. operation of the Swiss pharmaceutical and skincare giant will move from its current campus in Fort Worth, where it expanded in 2016 with a new research and development center. That campus, which is located at 14501 North Freeway, was acquired by Macfarlan Capital Partners in an off-market transaction, Globe St. reported in 2020.
Galderma plans to keep its distribution center in Hillwood’s AllianceTexas development, the DMN reports.
Galderma invents, develops, and markets skin health solutions for consumer and medical uses. One of the world’s largest independent global dermatology companies, it has a portfolio that includes well-known brands such as Cetaphil, Proactiv, Differin, and Restylane.
The company looks forward to its next chapter of growth in Texas, according to Michael Shires, head of Galderma Global Real Estate and Facilities, in the DMN. Galderma’s U.S. search included many national and local options, he said, “but once we saw what the Arts District has to offer—a thriving, walkable location that will allow our associates to become part of the community where they work, as well as to help attract new talent as we continue to grow, we were set on Dallas.”
Diane Gomez-Thinnes, who helms Galderma U.S., said the urban location can benefit its employees in a post-COVID world. “When we think about Galderma and its refreshed brand, we really wanted a setting that was a good match—one that was innovative and inspiring,” she told the publication.
First U.S. acquisition
Galderma announced its first acquisition in the United States in late November. The company bought California-based Alastin for an undisclosed price, Reuters reported. Alastin, which already collaborates with Galderma on anti-aging injections and skin fillers, was founded in 2015. The acquisition will boost the company’s presence in the U.S.
Deep Texas ties
The company’s ties to Texas started in 1961. Dallas founded Owens Laboratories, which was later acquired and renamed by Fort Worth-based Alcon in 1972, per D CEO. In 1977, Nestlé acquired Alcon—a company that’s spawned many innovators in North Texas and beyond. Later in 1981, Galderma was formed as a joint venture with L’Oréal. In 2019, Galderma was “carved out of Nestlé”in a $10.1 billion deal by a consortium led by Galderma owner EQT.
In November, the Financial Times reported Galderma has begun talks with investors for a potential $22 billion initial public offering in the first half of 2022.
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