L'Oréal has acquired a stake of 10 percent from shareholders in the Zug-based dermatology company Galderma. To this end, the French cosmetics company bought up shareholdings owned by previous investors such as Sunshine SwissCo, a consortium under the leadership of the Stockholm-based investment firm EQT, as well as from the Abu Dhabi Investment Authority and Auba Investment from Singapore. No financial details of the share acquisition have been disclosed. The transaction is not expected to lead to any changes in the make-up of the Galderma Board of Directors, as the company explains in a press release.
Galderma and L’Oréal have also signed a memorandum of understanding, which outlines the partners’ ambition to work towards a new research and development collaboration in the form of a scientific partnership focused on complementary research projects. According to the information, the two companies are keen “to deliver new combined levels of performance against the signs of skin aging”. This cooperation may ultimately enable the companies to develop new products on a joint basis and to use complementary technologies, with the aim of expanding and enhancing their respective product portfolios.
Flemming Ørnskov, Managing Director of Galderma, sees the investment from the new major shareholder as a “sign of confidence in our strategy, track record and growth potential”, adding that the company is looking forward to “pursuing scientific partnership opportunities together”. Galderma has focused on the science of the skin for 40 years. The company’s entrepreneurial commitment is reflected in its development of injectable aesthetics, as well as dermatological skincare and therapeutic dermatology solutions. ce/mm
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