Irvine beauty formulations firm Benchmark Cosmetic Laboratories has traded hands.
The company, which works with prestige brands such as Drunk Elephant, was bought by Quebec beauty products maker Knowlton Development Corp., which operates as KDC/ONE. The Benchmark deal is the ninth transaction over four years for KDC/ONE, which was sold to a group led by investment firm Cornell Capital last year.
Drunk Elephant, which has an office in Newport Beach, was itself sold to Shiseido Co. last month for $845 million.
Terms of the Benchmark deal were not disclosed.
Benchmark specializes in hair, skin and nails and will be KDC/ONE’s West Coast arm for R&D and testing.