How L’Oréal’s 20 Percent Stake in Galderma Positions both groups for the Next Skin Health Boom

L’Oréal is doubling down on science-backed skin health, agreeing to acquire an additional 10% stake in Galderma Group, taking its total holding to 20% and deepening its exposure to fast-growing dermatology-driven beauty. The stake, purchased from Sunshine SwissCo GmbH – a consortium led by EQT, Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd. – is expected to close in Q1 2026, subject to customary approvals.

Deal terms and board shift

The new 10% stake builds on L’Oréal’s initial investment made in August 2024, turning a minority position into a more strategic anchor in Galderma’s long-term growth story. Once completed, L’Oréal will own 20% of Galderma, strengthening its foothold in premium dermatology at a time when consumers are investing more in targeted skin health solutions.

In connection with the increased investment, Galderma will consider nominating two non-independent board candidates from L’Oréal at its 2026 Annual General Meeting, replacing board…