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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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.”
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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.
Estee Lauder to buy Deciem, Canadian skincare company behind brand The Ordinary
The Estee Lauder Cos Inc. has struck a deal to buy Canadian skincare company Deciem Beauty Group Inc. at a valuation of US $2.2 billion.
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The Canadian Press ·
Posted: Feb 23, 2021 6:43 PM ET | Last Updated: February 24
The agreement will see Estee Lauder purchase Deciem, a Toronto-based company behind the popular skincare brand The Ordinary, in two phases. (Keith Whelan/CBC)
The Estee Lauder Cos Inc. has struck a deal to buy Canadian skincare company Deciem Beauty Group Inc. at a valuation of US $2.2 billion.
The agreement will see Estee Lauder purchase the Toronto-based company behind the popular skin care brand The Ordinary in two phases.