L'Oreal Close to Agreement to Buy Skincare Brand Medik8 for Around $1.1 Billion, FT Says, Citing Sources

-- L'Oreal is poised to buy U.K. skincare company Medik8 for roughly 1 billion euros ($1.14 Billion), as the French cosmetics company seeks to strengthen its offering of premium beauty brands, the Financial Times reports, citing sources.

-- The deal is close to being signed and is expected to be announced in the coming days, although the timeline could yet slip, according to the Financial Times.

-- L'Oreal declined to comment to FT, while Medik8 didn't reply to a request for comment.

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(END) Dow Jones Newswires

06-05-25 0426ET