PARIS (Reuters) – The L’Oréal cosmetics group announced on Monday that it has signed an agreement for the acquisition of majority participation in the capital of the British skin care medik8 brand.
The amount of the agreement has not been disclosed. According to a source available to discussions, the transaction would value Medik8 at around a billion euros. Questioned by Reuters, a spokesperson for L’Oréal said that the group did not communicate about the amount of the operation.
On the Paris Stock Exchange, the L’Oréal share fell 0.22% to 380.50 euros around 07:51 GMT. The CAC 40 gave up 0.11% at the same time.
“The partnership with L’Oréal will allow Medik8 to strengthen its presence on the existing markets and to develop on a global scale,” the inflection capital-investment company, owner of Medik8 said in a separate statement.
The leaders of L’Oréal, who seek to strengthen the growth of the group, said this year that they were continuing their acquisitions. The company bought the South Korean brand for DR.G skin care in December and confirmed in February a minority stake in the Omanaise Society of Luxury Amouage.
In the context of this transaction, inflection specifies that it will retain a minority participation in British society.
With this operation, specifies L’Oréal in a press release, the group also acquires the full redemption rights of minority shareholders.
The transaction should be finalized in the coming months after regulatory approvals and other usual conditions of realization, adds L’Oréal.
(Written by Kate Entringer, with Anousha Sakoui, edited by Blandine Hénault)
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