THE WHAT?  Puig, a Spanish cosmetics company, has acquired a majority stake in Dr. Barbara Sturm, a German skincare brand. The financial terms of the deal were not disclosed. Dr. Barbara Sturm, the founder, will maintain a minority stake in her company, which she founded in 2014.

THE DETAILS Dr. Barbara Sturm’s brand specializes in anti-inflammatory skincare products and operates spas and boutiques in several major cities, such as London, New York, Miami, and Los Angeles. The brand has received celebrity endorsements, including from Kim Kardashian.

THE WHY?   This acquisition is part of Puig’s strategy to expand its presence in the premium skincare market and the U.S. market. It aligns with Puig’s broader goal of increasing its sales to 4.5 billion euros by 2025 and its consideration of a public stock offering as a means to attract new investors and expand its operations.