L’Oréal strengthens commitment to medical beauty with 10% stake increase in Galderma
The deal is expected to close in the first quarter of 2026.
SWITZERLAND – L’Oréal has significantly increased its stake in Galderma, raising its ownership from 10% to 20%, underscoring its ambitions in the fast-growing aesthetics market.
This transaction, facilitated by an off-market block trade with a consortium led by EQT, including Sunshine SwissCo, Abu Dhabi Investment Authority, and Auba Investment, will see L’Oréal consolidate its stake under the equity method once regulatory approvals are secured.
L’Oréal has made clear it does not intend to pursue further increases in its Galderma stake after this transaction, reaffirming its commitment to supporting Galderma’s independence and long-term strategy.
Galderma’s CEO, Flemming Ørnskov, welcomed the increased investment, stating, “We are pleased with L’Oréal’s increased investment, which affirms our direction and the meaningful value creation we expect in the years ahead.”
“As we move into 2026, we remain fully focused on our Integrated Dermatology Strategy and on serving our customers, consumers, and patients.”
The companies plan to strengthen their scientific partnership, focusing on dermatology-led innovation and skin health solutions, aligning with Galderma’s Integrated Dermatology Strategy.
As part of the transaction, Galderma’s board will consider nominating two non-independent board candidates from L’Oréal at its 2026 Annual General Meeting to replace the outgoing consortium representatives.
The investment was funded through L’Oréal’s available cash and credit lines, with the purchase price undisclosed.
This move coincides with L’Oréal’s broader investment momentum, including recent initiatives in the personal care sector and exploration of new opportunities such as a potential stake in Armani.
The transaction solidifies L’Oréal’s position as a major player in aesthetics and signals its commitment to innovation and growth in dermatology and skin health.
L’Oréal has recently been expanding its production capabilities with a USD 80 million investment in Mexico, signaling its commitment to strengthening supply chains for the Middle East and Africa markets.
The company has also partnered with the Egyptian Healthcare Authority to enhance dermatological care, reflecting its focus on both innovation and public health in the region.
L’Oréal has further broadened its skincare portfolio through the acquisition of Medik8, positioning itself at the forefront of scientific beauty solutions.
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