L’Oréal to acquire additional 10% stake in Galderma

Following the transaction, which is subject to customary approvals, L’Oréal’s total shareholding in Galderma will rise to 20%, building on its initial investment made in August 2024. The transaction is expected to close in Q1 2026.

In connection with this increased investment, Galderma will consider nominating two non-independent board candidates from L’Oréal, replacing the board members representing the consortium led by EQT, at the 2026 Annual General Meeting.  

Additionally, Galderma and L’Oréal aim at exploring additional scientific research projects of mutual interest. This ongoing collaboration brings together Galderma’s scientific expertise in dermatology and L’Oréal’s experience in the global beauty sector. With a shared focus on skincare and skin health, innovation, and long-term growth, Galderma and L’Oréal are well-positioned in the fast-growing, consumer-focused dermatology and beauty markets.  

“Galderma continues to deliver impressive growth, strong innovation and category leadership across its broad, science-based dermatology portfolio. With strengthened commercial execution, continued platform and portfolio expansion, and an increasingly consumer-focused approach to innovation, we are rapidly scaling into a dermatology powerhouse. We are pleased with L’Oréal’s increased investment, which affirms our direction and the meaningful value creation we expect in the years ahead. As we move into 2026, we remain fully focused on our Integrated Dermatology Strategy and on serving our customers, consumers, and patients,” said FLEMMING ØRNSKOV, M.D., MPH, chief executive officer, GALDERMA.