Puig buys from Esteve the 50% it did not control in Isdin for 1.2 billion euros. The operation takes place after the merger with Estée Lauder fell through. According to the company chaired by Marc Puig, which informed the National Securities Market Commission (CNMV), the total purchase price will be paid ”900 million euros on the closing date of the operation” and ”300 million euros as fixed deferred payment, to be paid in the first quarter of 2029”.
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The perfumery and luxury group has indicated that “the operation is part of Puig’s strategy to consolidate and strengthen its position in the dermocosmetic sector, acquiring the entire share capital of Isdin.” The Catalan company has specified to the CNMV that the purchase is pending “the obtaining of the relevant regulatory authorizations regarding concentration control in the applicable jurisdictions.” The closing of the operation is expected in “the first quarter of 2027.”
The purchase announced today ends the business relationship between Esteve and Puig that dates back 50 years. “Isdin represents five decades of shared vision between the Puig and Esteve families. Together we have contributed to building a company with a unique position at the intersection between science and beauty. We are grateful to the Esteve family
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Esteve for their decisive contribution and for the trust that has characterized our collaboration,” according to Marc Puig in a statement.
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