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Nestlé exchanges stake in L’Oreal for Galderma

By John Heilprin
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Nestlé exchanges stake in L’Oreal for Galderma

GENEVA (AP) — Swiss food and drink group Nestle is creating a new unit for medical skin treatments via a deal that reduces its stake in French cosmetics company L’Oreal.

The Vevey, Switzerland-based company said Tuesday it would take full ownership of Swiss dermatology pharmaceuticals company Galderma, which had been a 50/50 joint venture with L’Oreal. It will use Galderma’s management to form a new unit called Nestle Skin Health SA.

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