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Investing.com -- L’Oréal Groupe (EPA:OREP) on Monday said it has signed an agreement to acquire a majority stake in British skincare brand Medik8, expanding its Luxe Division with a science-backed label known for its Vitamin C and retinol-based products.
The transaction brings Medik8 into L’Oréal’s portfolio of premium skincare brands. L’Oréal said Inflexion, a private equity firm, will retain a minority stake in Medik8.
The cosmetics company however did not disclose the deal amount in its official statement.
Elliot Isaacs, founder of Medik8 will continue to serve on the board, and the existing management committee will remain in place. The company stated this structure is intended to support continuity following the acquisition.
Medik8 began with a focus on professional skincare and has expanded to a broader consumer market with both online and physical retail distribution across Europe. L’Oréal noted the brand has a growing presence in the United States.
Cyril Chapuy, president of L’Oréal Luxe, said the brand complements the division’s current skincare offerings and described the acquisition as an opportunity to build Medik8’s presence globally.
Simon Coble, chief executive of Medik8, said the company’s commitment to science and innovation would continue following the deal. He stated that joining L’Oréal would allow the brand to reach a wider audience.
L’Oréal will begin consolidating Medik8’s sales upon closing of the transaction. The agreement also includes a provision allowing L’Oréal to fully buy the remaining shares held by minority stakeholders in the future. The deal is subject to regulatory approvals and other customary conditions.