Marc Puig states the company is “not for sale,” reaffirms his commitment as a long-term shareholder

Marc Puig, executive chairman of Puig, said in his address to the company’s general shareholders’ meeting on Friday that the company “is not for sale” and reaffirmed the Puig family’s intention to remain long-term shareholders. The company disclosed this in a statement filed with the Spanish National Securities Market Commission (CNMV).

Puig explained that merger talks with Estée Lauder “did not lead to a transaction” but demonstrated the recognition the company enjoys within the sector.

“The combination explored would have required aligning three key aspects of any potential merger: governance, business leadership, and economic considerations that properly recognised the value of the company and were fair to all stakeholders,” he explained.

He said the family would have remained shareholders even if the talks had been successful: “We have a highly compelling long-term project, with very well-positioned brands, a winning team, a very solid balance sheet, and a history of more than 110 years behind us.”

At his first shareholders’ meeting in this role, the company’s CEO, José Manuel Albesa, said that over the past five years Puig has been “the fastest-growing premium multi-brand beauty company in the industry.”

“Not only are we growing rapidly, but we are also becoming a more balanced, more global and more resilient company,” he emphasised. Albesa reiterated the company’s expectations for 2026 and announced that the company will hold its Capital Markets Day on October 28 in Madrid.

He added that the company’s future “lies in scaling up what already works”: consolidating the tri-axis brands, strengthening the Niche segment, advancing in Prestige perfumery, and positioning itself in Derma.

The general meeting approved all the items on the agenda, including the distribution of a dividend of €0.42159 per share, 40% of reported net profit.

Shareholders approved the appointment of Albesa as an executive director and of Julie Van Ongevalle as an independent director, as well as the re-election of executive director Marc Puig; independent directors Nicolas Mirzayantz, Daniel Lalonde, Ángeles García-Poveda, and Christine Ann Mei; and other external directors Jordi Constans, Ioannis Petrides, and Rafael Cerezo.

Shareholders also approved the Board of Directors’ management for the 2025 financial year and voted in favour of the consolidated non-financial information statement and sustainability information.