# Puig acquisition of Isdin

> Live situation record from CLSTR: https://clstr.news/situations/puig-acquisition-of-isdin
> Updated: 2026-09-22T04:35:00.000Z. Sources: 14. Developments: 2.

Puig has reached a definitive agreement to acquire the remaining 50% stake in the Spanish dermocosmetics brand Isdin from Corporación Químico-Farmacéutica Esteve. The total transaction is valued at 1.2 billion euros, marking the conclusion of a 50-year joint venture between the Puig and Esteve families that began in 1975.

The payment structure involves an initial 900 million euro payment upon closure, followed by a 300 million euro deferred payment scheduled for the first quarter of 2029. Puig intends to finance the deal through internal resources and financial debt. The transaction is expected to finalize by the first quarter of 2027, pending regulatory approvals.

This acquisition is a strategic move for the Barcelona-based beauty group to expand its presence in science-led skincare and dermatology, diversifying beyond its traditional focus on fragrance, fashion, and makeup. Isdin reported net revenues of €647.7 million in 2025.

## Timeline

### 2026-09-22: Puig acquires full ownership of Isdin for €1.2 billion

Puig is acquiring the remaining 50% of Isdin from the Esteve family for €1.2 billion, gaining full control of the skincare brand to expand its dermocosmetics presence.

2 sources. https://clstr.news/cluster/puig-acquires-full-ownership-of-isdin-for-12-billion

### 2026-09-14: Puig to acquire full ownership of Isdin for 1.2 billion euros

Puig will acquire the remaining 50% of Isdin from Esteve for 1.2 billion euros, gaining full ownership of the dermocosmetics brand to bolster its skincare market presence.

13 sources. https://clstr.news/cluster/puig-to-acquire-remaining-50-of-isdin-for-12-billion-euros

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Cite as: Puig acquisition of Isdin. CLSTR, https://clstr.news/situations/puig-acquisition-of-isdin