The BeautyHealth Co. has initiated a stock repurchase program. 

The $100 million program is part of a transformation drive at the Long Beach-based skincare products manufacturer to drive profitable growth by reducing operating costs and streamlining its operations. 

BeautyHealth Chief Executive Andrew Stanleick said that the actions taken by the company last month reflect its commitment to create shareholder value. 

“The transformation program is an important step towards delivering our long-term growth and profitability targets in 2025 and beyond,” Stanleick said in a statement. 

The stock repurchase program began on Sept. 26. 

The company expects to fund its share repurchases with existing cash on hand and is not obligated under the program to acquire any set amount of stock. It can can suspend or terminate the program at any time. 

The extent to which the company repurchases shares, and the timing of such repurchases, will depend upon a variety of factors as determined by the company’s management, the BeautyHealth release said.  

Purchases may be affected through one or more open-market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing, the release added. 

The business transformation program, announced on Sept. 12, will be done in two phases. 

In the first phase, the company will reduce costs by modernizing processes by leveraging technology and automation; streamlining its go-to-market footprint to create unified centers to support its brand growth; and advancing initiatives to drive manufacturing efficiencies, the company said. 

Phase one of the program is expected to realize annualized cost savings of more than $20 million during the first quarter of next year, the company added. 

In the second phase, BeautyHealth expects cost savings of more than $15 million to be realized in the second quarter of next year by optimizing its manufacturing operations.