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.
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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.
The Estée Lauder Companies to Increase Its Ownership in DECIEM
Tuesday, February 23, 2021 5:31PM IST (12:01PM GMT)
ELC will expand its investment in the company behind fast-growing skin care brands The Ordinary and NIOD, and establish terms for full ownership in three years
New York, United States:
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has entered into an agreement to increase its investment in the Canadian-based, vertically integrated, multi-brand company, DECIEM Beauty Group Inc. (“DECIEM”) from approximately 29% to approximately 76% (the “First Phase”). The transaction is expected to close in the quarter ending June 30, 2021. The Estée Lauder Companies Inc. (“ELC”) has agreed to purchase the remaining interests after a three-year period (the “Second Phase”).