Nestlé to sell skin health business for $10B
Consumer goods giant Nestlé is in talks to sell its skin health business to private equity firm EQT and the Abu Dhabi Investment Authority for $10.1 billion, The Wall Street Journal reported.
Nestlé’s skin health portfolio includes products Cetaphil and Proactiv, as well as skin cancer treatments and skin-care products from Valeant Pharmaceuticals, and generated 2.8 billion francs in net sales in 2018, according to the WSJ.
The acquisition price is at the high end of investor estimates. EQT is a major buyout firm with $44.8 billion in assets under management. The high price tag underscores the increased influx of cash flowing into the healthcare space. The story comes after Nestlé sold its life insurance business for $1.55 billion last year.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."