Estée Lauder is set to acquire Deciem, a beauty startup responsible for the Ordinary skincare brand. Estée Lauder will invest $ 1 billion in its development to increase its ownership of its shares to 76%.
Estée Lauder already owns 29% of Deciem, which the company bought in 2017. As a result of the new deal, the company will receive a controlling stake, and the estimated value of Deciem is $ 2.2 billion.
The deal is scheduled to close by June, with Estée Lauder acquiring the remaining Deciem shares over the next three years.
The Deciem startup was founded in 2013 and has six cosmetic brands in its portfolio, the main of which is The Ordinary, which produces skincare products that are popular with a young audience. Brand sales last year were $ 460 million.
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