L’Oréal Purchases a Skin Care Brand You Probably Already Love

2016 may have been the year of the beauty company purchases, but if 2017 has any say in the matter, it’s not planning on taking a back seat.

As announced this morning, L’Oréal is buying CeraVe, AcneFree and Ambi for approximately $1.3 billion in cash from Valeant.

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According to Fortune, the trio will stand “alongside the likes of Vichy and La Roche-Posay in its Active Cosmetics division, which is among its strongest in terms of growth and resilience to slowdowns in consumer spending in the past three to four years.”

“What we can see all over the world, including in the U.S., is that there’s a huge trend in using medicated skin care,” Brigitte Liberman, president of the L’Oréal division, said in an interview. “People want to be reassured by what they’re using in terms of skin care, and something developed with a health care professional is key to reassure the consumer.”