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Bloomberg
Colgate-Palmolive Co is among bidders for the consumer arm of Nestle SA’s skin-health business, people familiar with the matter said, joining an auction process that’s been dominated by private equity firms.
Colgate and Unilever NV are both bidding for the consumer-focussed part of Nestle’s business, which includes brands such
as Cetaphil moisturisers and cleansers and the Proactiv acne treatment, the people said, asking not to be identified. L’Oreal SA has dropped out of the auction, the people said. No final decisions have been made and Nestle hasn’t decided whether to sell the medical and consumer businesses separately or as a whole, they said.
A consortium that includes Advent International, Cinven and GIC Pte, as well as KKR & Co, EQT Partners and Carlyle Group LP, were among firms brought through to the auction’s second round. The entire skin-care business may fetch $8 billion to $10 billion, and Nestle would prefer to sell the unit as a whole, the people said.