L'Oréal Increases Its Stake in Galderma to 20%
L'Oréal announces the acquisition of an additional 10% of Galderma Group AG, bringing its total stake to 20%.
According to L'Oréal, the company has acquired an additional 10% of Galderma Group AG from a consortium led by EQT, including Sunshine SwissCo GmbH, Abu Dhabi Investment Authority, and Auba Investment Pte. Ltd. The amount of the transaction was not disclosed, but it increases L'Oréal's stake in Galderma to 20%. This transaction will be finalized after customary regulatory approvals, expected in the first quarter of 2026.
Per the announcement, L'Oréal's new stake in Galderma will allow for the appointment of two non-independent directors representing L'Oréal on Galderma's board of directors. These appointments will replace members of the consortium led by EQT at the Annual General Meeting in 2026. The agreement includes standard clauses for this type of investment, and the existing shareholders' agreement with Sunshine SwissCo GmbH will terminate upon completion of the transaction.
The transaction, supported by Galderma, will be financed through L'Oréal's available equity and credit lines. L'Oréal states that this operation is part of its intention to strengthen the scientific partnership with Galderma. Nicolas Hieronimus, CEO of L'Oréal, emphasized the importance of aesthetics in connection with the company's core business, beauty. Once the transaction is finalized, L'Oréal will consolidate its stake by equity accounting of Galderma's results.
