Puig acquires remaining 50% stake in Laboratorios Isdin for €1.2 billion
The Corner Puig Brands notified the CNMV yesterday that it has entered into a share purchase agreement with Corporación Químico-Farmacéutica Esteve, S.A., to acquire shares representing 50% of the share capital of Isdin, S.A., a Spanish company operating in the dermo-cosmetics and skincare sector. Upon completion of the transaction, PUIG will hold 100% of Isdin’s share capital. The total purchase…
Puig has agreed to buy the remaining 50% stake in Spanish skincare company Isdin from Esteve family, for 1.200 million euros, according to the luxury group's statement to the CNMV. The acquisition will allow Puig to fully integrate Isdin into its consolidated accounts, effectively doubling its dermocosmetics business. The Barcelona-based firm, which has been a 50% partner with Isdin for the past 50 years, will now increase its stake to 100%.
The deal, announced this Monday, will be financed through the company's own resources and bank debt. Isdin, led by Juan Naya, generated 648 million euros in revenue in 2025, representing 11% of Puig's total sales, which totaled 5.042 million euros in the same year. With this acquisition, Puig aims to reduce its dependence on its fragrance business, which currently accounts for more than 70% of the company's total revenue.
The CEO of Puig, Jos� Manuel Albesa, emphasized that expanding into dermocosmetics is a strategic priority for the group. Puig will pay 900 million euros in cash for the 50% stake in Isdin by the first quarter of 2027, and an additional 300 million euros in the first quarter of 2029.
Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
