L’Oréal agrees to buy majority stake in India’s personal care group Innovist

L’Oréal said it has signed an agreement to acquire a majority stake in Innovist, an Indian personal care house of brands. Innovist owns digital-native, science-led local skincare and haircare labels including Bare Anatomy and Chemist at Play, supported by in-house R&D and manufacturing and an omnichannel distribution network. The deal is expected to close within the next few months, after which Innovist will be folded into L’Oréal’s Consumer Products Division while its founding team remains in place as minority shareholders. No transaction value was disclosed and the deal involves no public-market share issuance or financing arrangements.