L’Oreal to acquire majority stake in Medik8

L’Oreal (LRLCY) announced that it has signed an agreement to acquire a majority stake in the British skincare brand Medik8. As part of the transaction, Inflexion, a European mid-market private equity firm, will remain a minority shareholder. The founder will continue to serve on the board, with the current management committee also remaining in place to ensure continuity. “We are delighted to welcome Medik8 to the L’Oreal family. As a premium skincare range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skincare portfolio,” explained Cyril Chapuy, President of L’Oreal LUXE. L’Oreal will start consolidating Medik8 sales from the date of the closing of the transaction. As part of the agreement, L’Oreal has also secured rights to buyout in full the minority shareholders. The transaction is expected to be completed in the next few months after regulatory approvals and other customary conditions.