Nestlé to sell its Skin Health division

Nestlé is in negotiations with a consortium led by the funds EQT Partners and the Abu Dhabi Investment Authority (ADIA) for the sale of the Nestlé Skin Health division.

The US $10.1 billion deal will be subject to approval of regulatory authorities and is expected to close in the second half of 2019. Headquartered in Lausanne, Switzerland, Nestlé Skin Health employs more than 5,000 people across 40 countries.

Its portfolio includes the brands Cetaphil, Proactiv and Galderma, which in 2018 generated revenues of CHF 2.8 billion (3% of Nestlé’s total sales).

Galderma in particular became a wholly-owned subsidiary of Nestlé in 2014 as part of a share swap deal with L’Oréal that saw Nestlé reduce its stake in the French group.