Nestlé in exclusive talks to sell skin health business | Progresiv
Nestlé has announced that it has entered into exclusive negotiations with a consortium regarding the sale of its Nestlé Skin Health business, for an enterprise value of 9 billion euros. 
Nestlé Skin Health (formerly Galderma) operates three business units in prescription, aesthetics, and consumer care, which generated net sales of 2.5 billion euros in 2018. The business employs more than 5,000 people across 40 countries.
The consortium, which is led by EQT and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), said it plans to support the unit in “its next period of growth and innovation”, building on “the current direction taken by NSH’s management”. The plans also call for driving innovation in the Aesthetics unit, investing in R&D for the Prescription division, increasing its presence in the US, and expanding internationally in the consumer health business.
The consortium added that it will rebrand the unit back to Galderma, while keeping it headquartered in Switzerland.
The deal is subject to employee consultations and approval of regulatory authorities but is expected to close in the second half of 2019. (www.kamcity.com)
