L’Oréal is to acquire a majority stake in UK-based skincare brand Medik8. Private-equity firm Inflexion will remain a minority shareholder in the company, but L’Oréal has also secured rights to buy out the minority shareholders in full.
Medik8’s founder Elliot Isaacs will continue to serve on the board, and the current management committee is to remain in place.
Medik8 was founded in 2009 and is best known for its Crystal Retinal serum and its CSA Philosophy, a regimen of vitamin C and sunscreen by day and vitamin A by night. The brand has expanded its distribution beyond the dermocosmetics channel, and is sold in key retailers in Europe and has a growing presence in the US.
The brand will become part of L’Oréal’s Luxe division. L’Oréal says the brand has a strong potential for growth globally.
L’Oréal did not reveal financial details. However, Medik8 made a pre-tax profit of £15.6m ($21.1) on revenues of £45.3m ($61.4m) in the year to September 2023, according to accounts filed at UK Companies House.