Walder Wyss advises Nestlé on CHF 10.2 billion sale of Skin Health Business
2 October 2019 – Nestlé SA (SIX: NESN) sold its Swiss Group company Nestlé Skin Health AG, a leading global provider of skin health products, to a consortium comprising EQT VIII fund, Luxinva (a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA)), PSP Investments and other renowned institutional investors, at a purchase price of CHF 10.2bn.
Founded in 1981 as Galderma and operating as a wholly owned subsidiary of Nestlé since 2014, Nestlé Skin Health is a leading skincare company offering a range of medical and consumer skin health solutions through three business units. The Group has a combined annual revenue of CHF 2.8bn. and employs more than 5,000 people worldwide.
Walder Wyss acted as lead Swiss counsel to Nestlé in connection with the transaction. The team was led by Alex Nikitine (Partner, Corporate/M&A), Lara Alec (Associate, Corporate/M&A) and Dimitrios Berger (Associate, Corporate/M&A) and further included Ueli Sommer (Partner, Labor Law), Simone Wetzstein (Managing Associate, Labor Law), Francis Nordmann (Partner, Real Estate), André Kuhn (Managing Associate, Real Estate), Maurus Winzap (Partner, Tax), Sarah Schulthess (Senior Associate, Corporate/M&A) and Christian Schmid (Trainee, Corporate/M&A).