Nestlé in exclusive negotiations on Skin Health

Nestlé in exclusive negotiations on Skin Health
Nestlé has achieved a "significant turnaround" of its Skin Health business over the past two and a half years, says Mark Schneider, Nestlé's chief executive officer

16 May 2019 - Deborah Wilkes

Nestlé has entered into exclusive negotiations on the sale of its Skin Health business for CHF10.2 billion (USD10.1 billion) to a consortium led by private-equity firm EQT and the Abu Dhabi Investment Authority (ADIA).

The purchase price represents 3.6-times Nestlé Skin Health's 2018 sales of CHF2.8 billion.

Nestlé announced in September 2018 that it was exploring strategic options for the Skin Health business, which markets a range of prescription, aesthetics and consumer care products. It said "future growth opportunities of Nestlé Skin Health lie increasingly outside the group's strategic scope".

Chief executive officer Mark Schneider said recently that Nestlé had accomplished a "significant turnaround" of the Skin Health business over the past two and a half years. "It is now a high-growth business with strong brands and a winning strategy in each of its three business segments," he commented (click here to read the News story).

Swiss nutrition, health and wellness company Nestlé said the proposed transaction was expected to close in the second half of 2019, and would be subject to employee consultations and the approval of regulatory authorities.

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