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The Estée Lauder Companies Increases Ownership in DECIEM
Thursday, May 20, 2021 5:11PM IST (11:41AM GMT)
ELC has closed the previously announced deal to expand its investment in the company behind fast-growing skin care brands The Ordinary and NIOD
New York, United States:
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has completed the first phase of increasing its ownership in DECIEM Beauty Group Inc. (“DECIEM”), the Canadian-based, vertically integrated, multi-brand company. The Estée Lauder Companies (“ELC”) now owns approximately 76% of DECIEM (up from 29%), and has agreed to purchase the remaining interests after a three-year period at a price that will be determined based on the future performance of DECIEM.