Latham & Watkins Advises Obagi on US$1.2 Billion Business Combination With Waldencast and Milk Makeup as a First Step in Waldencast’s Strategy To Create a Global Multi-Brand Beauty and Wellness Platform

Waldencast Acquisition Corp., (NASDAQ: WALD), a special purpose acquisition company announced it has entered into definitive simultaneous business combination agreements with leading science-based, results-driven skin care brand Obagi and award-winning makeup and skin care brand Milk Makeup.

Latham & Watkins represents Obagi in the transaction with a corporate team led by Orange County partner Scott Shean and Los Angeles partner Andrew Clark with associates Brian Umanoff, Trevor Yedoni, Nolan Fargo, and Jack McKay. Advice was also provided on capital markets matters by Orange County partner Shayne Kennedy and Bay Area partner Phillip Stoup; on compensation and benefits matters by Los Angeles partner Michelle Carpenter with associate Aaron Tso; on tax matters by Bay Area partner Katharine Moir with associate Alexander Farris; on finance matters by Los Angeles partner Mark Morris; on licensing and intellectual property matters by San Diego partner Steven Chinowsky, San Diego counsel Darryl Steensma and New York counsel Eliot Choy with associates Kathryn Parsons-Reponte and Michael Sweeney; on antitrust matters by Bay Area partner Joshua Holian and Washington, D.C. counsel Joseph Simei; and on healthcare regulatory matters by Washington, D.C. partner Elizabeth Richards, Paris partner Eveline Van Keymeulen and Bay Area counsels Heather Deixler and Betty Pang with associate Jeanne Fabre.