Galderma Group AG, the dermatology-focused company listed on the SIX Swiss Exchange under the symbol GALD, said L’Oréal Groupe intends to increase its equity investment by acquiring an additional 10% stake. This move would double L’Oréal’s ownership in the company to 20% and deepen the strategic relationship between the two groups.
The additional shares are expected to be purchased from Sunshine SwissCo GmbH, which Galderma described as a consortium led by EQT, Abu Dhabi Investment Authority, and Auba Investment Pte. Ltd., acting as the sellers. Galderma said the transaction is subject to customary approvals and is expected to close in the first quarter of 2026. L’Oréal’s increased position builds on an initial investment the beauty group made in August 2024, according to Galderma.
As part of the broader governance implications of the deal, Galderma said it will consider nominating two non-independent board candidates from L’Oréal at the company’s 2026 Annual General Meeting. If pursued, those nominations would replace board members currently representing the consortium led by EQT.
Galderma also said it and L’Oréal plan to explore additional scientific research projects of mutual interest, positioning the collaboration as a combination of Galderma’s dermatology research capabilities and L’Oréal’s scale and experience in the global beauty market. The company highlighted what it described as fast-growing, consumer-focused dermatology and beauty markets, where skincare and skin health remain central themes for innovation and long-term expansion.
Galderma, founded in 1981 and present in approximately 90 countries, markets a portfolio spanning injectable aesthetics, dermatological skincare, and therapeutic dermatology. The company said it remains focused on its Integrated Dermatology Strategy as it continues to expand platforms and its portfolio while placing increased emphasis on consumer-oriented innovation.
KEY QUOTES:
“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.”
Flemming Ørnskov, M.D., MPH, Chief Executive Officer, Galderma
