L’Oréal Boosts Galderma Stake to 20% to Strengthen Aesthetic Portfolio

Key Takeaways

L’Oréal has acquired an additional 10% stake in Galderma Group AG, raising its ownership to 20%.
The shares were purchased from a consortium led by EQT for an undisclosed amount, with the transaction expected to close by Q1 2026.
The move solidifies L’Oréal’s commitment to the medical aesthetics sector while supporting Galderma’s strategic initiatives.

Transaction Details

L’Oréal has expanded its stake in Galderma Group AG by acquiring an additional 10%, increasing its total ownership to 20%. The shares were purchased from a consortium led by EQT, including Sunshine SwissCo, ADIA, and Auba Investment. The financial details of the transaction remain undisclosed.

As part of this increased stake, L’Oréal will have a say in Galderma’s governance, with the company’s board planning to consider two non-independent candidates from L’Oréal for nomination at the 2026 annual general meeting (AGM).

L’Oréal has stated that it will continue to support Galderma’s strategy under the guidance of CEO Flemming Ørnskov and does not seek a controlling interest in the company. This transaction will be executed as an off-market block trade and will be funded through L’Oréal’s existing cash and credit lines. The deal’s closing is anticipated by the first quarter of 2026, pending regulatory approvals. After the transaction is finalized, L’Oréal will account for its investment in Galderma using the equity method.

L’Oréal’s Strategic Move in Medical Aesthetics

This acquisition reflects L’Oréal’s ongoing commitment to the medical aesthetics sector, a high-growth area closely linked to its core business. By increasing its stake in Galderma, L’Oréal aims to formalize a deeper strategic alignment with the company across various areas such as scientific innovation and long-term market development. This step is part of L’Oréal’s broader strategy to diversify its portfolio and enhance its competitiveness in the aesthetic medicine industry.

Overall, the move signals L’Oréal’s intention to bolster its influence in the medical aesthetics space while maintaining a collaborative relationship with Galderma. This partnership aims to leverage shared expertise and drive advancements in the industry.

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