L'Oréal has acquired the skincare brands CeraVe, AcneFree and Ambi from Valeant for a cash purchase price of $1.3 billion.

Through the acquisition, the three skincare brands will become part of L'Oréal’s Active Cosmetics Division, which includes brands such as La Roche-Posay, Vichy and SkinCeuticals.

The acquisition closing is subject to the standard regulatory approvals and other customary conditions.