Skincity is a leading e-commerce company offering skin care products and advice directly to end-customers.
Axel Johnson AB has signed an agreement to acquire a 70% stake in Skincity from the founders and Rite Ventures. The transaction will provide Skincity with a strategic major shareholder with industrial experience and will help to further develop the company’s market position in existing and new markets. The founders and Rite Ventures will remain as minority owners.
Closing of the transaction took place simultaneously with the entering into the agreement and all conditions for completion have therefore been fulfilled. The parties have agreed not to disclose the terms of the transaction.
Carnegie acted as sole financial adviser to Skincity and its shareholders in connection with the transaction.