THE WHAT? Medik8 parent company Pangaea Laboratories has received investment from private equity firm Inflexion.
THE DETAILS Medik8 is said to have sold a majority stake in the business, in a deal that industry sources suggest values the company at between £150-£200 million.
Simon Turner, Managing Partner of Inflexion, said, “Medik8’s science-based approach to skincare combined with its sustainability credentials make it an incredibly impressive business. We look forward to working closely with the whole team to scale the business further through enhancing their digital routes to market, and by supporting their continued innovation, new product launches and international expansion.”
THE WHY? The buy-out follows in the footsteps of the the Estee Lauder Companies’ acquisition of Deciem, and signals a growing consumer appetite for cult skincare brands.
Discussing the acquisition, Elliot Issacs, Founder of Medik8, highlighted the desire for future growth.
He stated, “We are thrilled to be partnering with Inflexion who have the passion and expertise to help us accelerate the brand’s international ambitions. Crucially, Inflexion have been unwavering in their support for our amazing team and professional-led heritage. We could not be more excited about the future.”