Puig to Acquire Remaining 50% Stake in ISDIN for €1.2 Billion, Strengthening Its Position in the Global Skincare Market

Spanish beauty and fragrance group Puig has agreed to acquire the remaining 50% stake in ISDIN, a leading dermatology and skincare company, from Corporación Químico-Farmacéutica Esteve (CQFE), thereby gaining full ownership of the business.

Announced on 14 September 2026, the €1.2 billion acquisition marks a significant milestone in Puig’s strategy to expand its presence in the global dermocosmetics and skincare market. The transaction brings an end to the 50-year partnership between the Puig and Esteve families, who jointly established ISDIN by combining their expertise in science and beauty.

The acquisition is intended to strengthen Puig’s position in dermatological skincare and provide a stronger platform for ISDIN’s future growth, scientific research and product innovation.

According to Puig, full ownership will enable the company to support ISDIN’s development while investing further in its established brand portfolio, scientific capabilities and relationships with healthcare professionals and consumers.

ISDIN has developed an international presence through its science-led approach to skin health, dermatology and skincare products. For Esteve, the transaction will allow the pharmaceutical group to focus on its pharmaceutical and contract development and manufacturing organisation (CDMO) businesses.

The deal reflects the continued consolidation of the beauty, personal care and dermocosmetics industries, as major companies pursue acquisitions to strengthen their market positions and diversify their product portfolios.

Completion remains subject to the relevant regulatory approvals. The acquisition represents a strategic step for Puig as it seeks to accelerate growth in skincare and expand its presence in the science-driven beauty market.

Source: Puig