Source: Sharecast
While no financial details were given, L’Oréal said that private equity firm Inflexion would remain a minority shareholder as part of the deal.
However, according to sources cited by Reuters, the transaction values Medik8 at an enterprise value of €1bn,.
Medik8, founded in 2009 by scientist Elliot Isaacs, is part of the growing wave of science-backed premium skincare brands, and has "strong potential" for global growth, according to the French firm.
L’Oréal expects the deal to complete in the next few months, subject to regulatory approvals.
“We are delighted to welcome Medik8 to the L’Oréal family. As a premium skincare range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skincare portfolio,” said Cyril Chapuy, president of L’Oréal LUXE.
“We share a strong belief in Medik8's global potential and are excited to embark on this journey together, to build a powerful and impactful brand presence worldwide.”