L’Oreal has agreed to acquire a majority stake in British skincare brand Medik8, strengthening its position in the fast-growing dermatological skincare segment.
The French cosmetics group announced the deal Monday, though financial terms were not disclosed.
UK-based private equity firm Inflexion, which currently owns Medik8, will retain a minority stake. L’Oreal has secured the right to buy out minority shareholders entirely at a later date.
In a statement, L’Oreal described Medik8 as a premium, science-backed brand with a strong record of success and high global growth potential. The acquisition adds to L’Oreal’s luxe portfolio, which includes brands such as MiuMiu perfume, Lancome skincare, and Aesop cleansers.
Sales in L’Oreal’s luxury division, its second-largest business unit, grew by 2.7% last year. While that marked the slowest growth among the company’s segments, it still outperformed the beauty division of rival LVMH.
Medik8 specializes in anti-ageing creams and serums based on vitamin A and has seen growing demand among consumers seeking evidence-based skincare.
