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The Toronto-based company, also referred to as The Abnormal Beauty Company, currently has six brands, including The Ordinary an internationally popular skincare brand with a large consumer base.
“Over the last four years, we have built a truly special long-term partnership with the incredible DECIEM team, and we are excited for what the future holds,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder, in a statement.
“DECIEM is an exceptional company. Nicola and her team have built and cultivated authentic brands with highly effective, must-have products using a vertically integrated model, and have fostered a uniquely transparent and engaging communication style. The company’s hero products, desirable innovation, and digital- and consumer-first high-touch approach have been instrumental to its success.”
Estée Lauder is to pay $1 billion for a controlling stake in the Canadian owner of the Ordinary skincare brand.The American cosmetics group said it would raise its interest in Deciem Beauty from 29
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Another one of Toronto s incredibly successful homegrown companies (Deciem) is making waves in the business world today for inking a billion-dollar aquisition deal with a major multinational conglomerate.
Estée Lauder announced on Tuesday that it has agreed to purchase Deciem creator of cult skincare line The Ordinary, among other brands in two phases at a valuation of roughly $2.2 billion.
The acquisition will take place over three years, beginning with Estée Lauder increasing its shares in the Canadian company from roughly 29 per cent to 76 per cent this summer.