L'Oréal acquires a majority stake in British skincare brand Medik8
As part of the deal, private equity firm Inflexion will remain a minority shareholder, and the current management committee will also stay in their roles.
The cost of the stake is officially undisclosed, although the Financial Times reported last week that the potential deal was worth around €1bn.
L'Oréal's share price was roughly unchanged on the news.
'We are delighted to welcome Medik8 to the L'Oréal family,' said Cyril Chapuy, President of L'Oréal LUXE. 'As a premium skincare range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skincare portfolio,' he added.
L'Oréal has been seeking to capitalise on the boom in science-driven skincare, partly driven by social media influencers.
Brands already under its 'Dermatological Beauty Division' include La Roche-Posay, Cerave, Vichy, Skinceuticals, and Skinbetter Science.
This unit brought in over €7bn in revenue in 2024, representing an almost 10% year-on-year rise, making it L'Oréal's fastest-growing division.
Seeking to expand its portfolio, L'Oréal bought soap maker Aesop in 2023, and Korean beauty brand Dr.G in December.
Last year, L'Oréal also acquired a 10% stake in skincare firm Galderma, as well as acquiring the beauty licence for Miu Miu.
At the time of the Galderma deal, the French firm said it was 'increasingly investing in a more holistic approach, spanning the entire beauty routine' — thereby 'anticipating and intercepting the signs of skin ageing'.
Medik8, founded in 2009, specialises in anti-ageing treatments and was bought by UK-based private equity firm Inflexion in 2021.
Media conglomerate Warner Bros. Discovery announced on Monday that it would split into two public companies by next year, carving off its TV network operations from its streaming service.
The move to spin off one company devoted to streaming and a second devoted to traditional television comes as the company struggles with a decline in overall business.
The organisation said the new Streaming & Studios group would include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max as well as their film and television libraries.
The Global Networks company will include CNN, TNT Sports, Discovery+ and other digital products.
Shares in the company jumped more than 9% ahead of the market opening.
Current Warner Bros. Discovery CEO David Zaslav will continue as the head of Streaming & Studios, while the company's chief financial officer Gunnar Wiedenfels will become CEO of Global Networks.
Both executives will continue in their current positions until the company separates.
'By operating as two distinct and optimised companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape,' Zaslav said in a statement.
The US media giant said the split would unlock value for shareholders and create opportunities for both businesses.
The split still needs final approval from the company's board but is expected to be completed by the middle of next year.
Warner Bros. Discovery was created only three years ago after a merger between Warner Media and Discovery.
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