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Nestlé Skin Health valued $7 billion by private equity firms

Private equity firms Cinven and Advent teamed up to bid in an auction that could value Nestle’s skin health business at about 7 billion Swiss francs ($7 billion), Reuters reported. P-E firms Blackstone, KKR, Carlyle, CVC, EQT and Partners Group reportedly also are expected to bid and might look for partners. Nestle Skin Health, which sells Cetaphil and Proactiv skin care products, Restylane wrinkle fillers and prescription dermatology medicines, had sales of 2.7 billion Swiss francs last year, accounting for roughly 3% of Nestle’s total.