Henkel quietly sold its Diadermine skincare brand to Dutch cosmetics company Beauty International in a deal valued at €16.32 million, according to Fashion Network.

WHO: Diadermine was founded in 1904 by Giambattista and Cornelio Bonetti and owned by Henkel since the early 1980s. The dermocosmetic brand is known for its anti-aging products commercialized in mass-market distribution.

WHY: The sale is part of Henkel’s reorganization that merged the cosmetics and detergents business units, creating a consumer brands division and its portfolio rationalization.

THE DETAILS:

• Henkel sold its Diadermine skincare brand to Dutch cosmetics company Beauty International for €16.32 million
• Under the terms of the deal, Henkel will continue to manage the brand’s business operations for a transitional period and has entered into a distribution agreement with Labori International.