L’Oréal is doubling down on science-backed skin health, agreeing to acquire an additional 10% stake in Galderma Group , taking its total holding to 20% and deepening its exposure to fast-growing dermatology-driven beauty.
The stake, purchased from Sunshine SwissCo GmbH – a consortium led by EQT , Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd. – is expected to close in Q1 2026 , subject to customary approvals. Deal terms and board shift The new 10% stake builds on L’Oréal’s initial
investment made in August 2024 , turning a minority position into a more strategic anchor in Galderma’s long-term growth story. Once completed, L’Oréal will own 20% of Galderma , strengthening its foothold in premium dermatology at a time when consumers are investing more in targeted skin health solutions.
In connection with the increased investment, Galderma will consider nominating two non-independent board candidates from L’Oréal at its 2026 Annual General Meeting , replacing board members representing the selling consortium.
This board evolution aligns governance more closely with L’Oréal’s strategic priorities and reinforces collaboration on portfolio, innovation, and global expansion. Science-first partnership Beyond capital, the tie-up also extends to innovation.
Galderma and L’Oréal plan to explore additional scientific research projects of mutual interest, combining Galderma’s dermatology leadership with L’Oréal’s scale as the world’s leading beauty player…
