Puig has agreed a deal with Corporación Químico-Farmacéutica Esteve (CQFE) to take full ownership of skin care brand Isdin.
The Spanish beauty conglomerate, which also owns make-up brand Charlotte Tilbury, will acquire CQFE’s 50% stake in Isdin.
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The deal marks a "new chapter” for the dermatological-focused brand after a 50-year partnership between the two companies.
“Isdin represents five decades of shared vision between the Puig and Esteve families,” said Marc Puig, Executive Chairman of Puig.
“Together, we have helped build a company with a distinctive position at the intersection of science and beauty.
“We are grateful to the Esteve family for its decisive contribution and for the trust that has characterised our partnership.
“Puig will approach this next chapter with a long-term commitment to Isdin, its people, its scientific culture and its continued development.”
Puig CEO Jose Manuel Albesa said expanding its presence into dermocosmetics is a strategic priority.
“Isdin is a unique company, with a strong management team, a clear strategy and a distinctive position in dermatology and skin care,” he said.
“Full ownership will give Puig the best platform to support its next phase of growth, deepen our presence in dermocosmetics, and continue investing behind the science, innovation and brand strength that have made Isdin successful.
“This is fully aligned with our long-term ambition to build a stronger presence in skin care and create value for all our stakeholders.”
Juan Naya, CEO of Isdin, said the skin care brand will remain focused on “advancing science and innovation, serving health care professionals and consumers, and supporting the talented teams and partners who have made Isdin’s success possible”.
“This new chapter provides Isdin with a strong platform for the future,” he added.
