L’Oréal To Acquire 10% Stake In Swiss Skin Care Company Galderma

By: Trademagazin editor Date: 2024. 08. 07. 09:59

French cosmetics company L’Oréal is to acquire a 10% stake in Swiss skin care firm Galderma from a group of major shareholders, the two companies have said.

The Swiss firm, originally set up as a joint venture between Nestlé and L’Oréal, began trading on the Swiss stock exchange in late March, with its shares rising.

Galderma said L’Oréal would acquire the 10% stake for an undisclosed premium from Sunshine SwissCo AG – a consortium led by Swedish private equity firm EQT – Abu Dhabi Investment Authority (ADIA) and Auba Investment Pte. Ltd.

Galderma said it had signed a memorandum of understanding with L’Oréal to work towards a new research and development collaboration in the form of a scientific partnership focused on complementary research projects.

L’Oréal said it will not seek to be represented at Galderma’s board of directors and has agreed to customary provisions for an investment of this type as part of a shareholders’ agreement with Sunshine SwissCo.

In a statement, L’Oréal added that Galderma is ‘fully supportive of the transaction and of the strategic scientific partnership and welcomes L’Oréal as a strong long-term partner.’

ESM