The Spanish company Puig will buy the remaining 50% it did not yet own of the Isdin laboratory from the Esteve family for 1.2 billion euros. The operation, announced this Monday, ends 50 years of partnership between Puig and Corporación Químico-Farmacéutica Esteve in Isdin, a company specializing in sun protection and skin care. With the conclusion of the transaction, expected for the first quarter of 2027, Puig will own 100% of Isdin.
The group led by Marc Puig will finance the acquisition with its own resources and bank debt. Of the 1.2 billion euros, 900 million will be paid in cash at the closing of the operation and the remaining 300 million in the first quarter of 2029. The perfumery and fashion company owns brands such as Carolina Herrera and Rabanne.
The acquisition comes after Puig and Estée Lauder interrupted, in May, negotiations for a possible merger and before the presentation, scheduled for October, of the new strategic plan of the listed Catalan company. The strengthening of dermocosmetics is expected to be one of the priorities of this plan, in an attempt to diversify revenue sources beyond fragrances, which currently represent more than 70% of the group's revenue.
With the full integration of Isdin, Puig's sales in the dermocosmetics area are expected to increase by approximately 117%, making the weight of this activity in the group's consolidated business practically double. Puig's dermocosmetics division generated approximately 551 million euros in revenue in 2025, while Isdin, led by Juan Naya, recorded billing of 648 million euros in the same year. "Expanding our presence in dermocosmetics is a strategic priority for Puig," said José Manuel Albesa, CEO of the group.
