L'Oréal will acquire a 10% stake in Swiss skincare firm Galderma from a group of major shareholders. The two companies signed a memorandum of understanding to work towards a new research and development collaboration in the form of a scientific partnership.WHO: Galderma was spun out of Nestlé in 2019 when a consortium led by private equity house EQT and including Singapore's GIC and the Abu Dhabi Investment Authority acquired the Nestlé Skin Health unit for $10 billion and rebranded it as Galderma. Since its inception in 1981, the business has been driven by a dedication to dermatology, delivering an innovative, science-based portfolio of sophisticated brands and services across aesthetics, consumer care, and prescription medicine. Galderma’s portfolio of flagship brands includes Restylane, Dysport, Azzalure, Alluzience, and Sculptra in injectable aesthetics; Cetaphil and Alastin in dermatological skincare; and Soolantra, Epiduo, Differin, Aklief, Epsolay, Twyneo, Oracea, Metvix, Benzac, and Loceryl in therapeutic dermatology.For over 110 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. The company has a broad portfolio of 37 international brands and 87,400 committed employees, a balanced geographical footprint, and sales across all distribution networks. In 2022, L’Oréal Groupe generated sales amounting to 38.26 billion euros.