Creation of Nestlé Skin Health S.A.
Nestlé has announced it will extend its activities to include the field of specialised medical skin treatments through the creation of Nestlé Skin Health S.A.
Nestlé Skin Health S.A. will be managed as a wholly-owned Nestlé subsidiary, with its own Board of Directors and headquarters located in Lausanne. It will focus on meeting the world's increasing skin health needs with a broad range of innovative and scientifically-proven products.
In line with this broadened strategy, the Nestlé Board of Directors has approved the sale of 48.5 million L'Oréal shares to L'Oréal for cancellation. Part of the proceeds will be used for the acquisition of the 50% stake of Galderma from L'Oréal, bringing our ownership of Galderma to 100%.
Galderma will form the foundation of Nestlé Skin Health S.A. and we will also merge Bübchen, our existing infant skin care business, into Nestlé Skin Health S.A. which will provide a sizeable platform for profitable growth.