The Commission of the European Union has granted regulatory clearance to a deal where L'Oréal and Nestlé will acquire joint control of a newly created company which will be active in food products with cosmetic purposes.

The French cosmetic group, L'Oréal, and the Swiss food products company, Nestlé, have agreed to create a joint venture which will be active in food products with cosmetic purposes. The operation was notified to the European Commission on 27 June.

The Commission has found that the operation will have no competitive impact given the current absence of activity of the parties in this activity and the presence of strong competitors belonging for some of them to pharmaceutical groups or cosmetic groups.

L'Oréal is a French company with three main areas of activities: cosmetic products, dermatological products and pharmaceutical products.

Nestlé is a Swiss company active in beverages and food products, pet-care products and pharmaceutical products.