Brands including Proactive and Cetaphil have been sold to a consortium led by investment company EQT and a subsidiary of the Abu Dhabi Investment Authority
Nestlé has sold its Skin Health business for a value of CHF10.2bn (£8.29bn).
The division includes medical and consumer brands including Proactive, Cetaphil, Benzac and Loceryl, as well as Galderma and Restylane Skinboosters.
Nestlé Skin Health, which generated net sales of CHF2.8bn in 2018, has been sold to a consortium led by investment firm EQT and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Nestlé first announced a planned sale in May, when it revealed that it had entered into exclusive negotiations with the two companies.
Nestlé Skin Health employs more than 5,000 people across 40 countries, and is headquartered in Lausanne, Switzerland.
In 2015, Nestlé Skin Health reshuffled its management team and created its Consumer Skin Health business.