Puig Plans Full Ownership of ISDIN, Targets Deal Closing in First Quarter of 2027

By Public Technologies11:08 (UTC), 28 October 2026 Updated

Puig plans to take full ownership of ISDIN, positioning dermo-cosmetics as its second-largest growth engine.
Cash consideration comprises €900 million at closing and €300 million during the first quarter of 2029.
Closing is expected in first-quarter 2027, subject to regulatory clearance; funding will combine internal resources with new debt.
Net debt to adjusted EBITDA is expected to remain below 2.0 times at year-end 2027, with rapid deleveraging thereafter.
ISDIN is expected to outgrow the dermo-cosmetics market over the medium term, with progressive margin improvement.

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