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Investing.com -- L’Oreal, the French beauty company, announced it is set to acquire a majority stake in the British skincare brand, Medik8. The company stated that this acquisition is part of their strategy to strengthen their Luxe portfolio.
L’Oreal sees a strong global potential in Medik8, noting the brand’s high levels of proven efficacy and its accessible price point. The company believes that these factors make Medik8 a valuable addition to its portfolio.
The acquisition is expected to be finalized within the next few months, pending regulatory approvals and other standard conditions. The financial details of the deal have not been disclosed.
As part of the agreement, Inflexion, a mid-market private equity firm, will retain a minority stake in Medik8. Additionally, the founder of Medik8, scientist Elliot Isaacs, will remain on the board, and the current management committee will also stay in place.
L’Oreal has secured rights to fully buy out the minority shareholders in the future. The company will begin incorporating Medik8 sales into its financials from the date the transaction is officially closed.
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