The Estée Lauder Companies Inc. (ELC) has increased its investment in Canadian-based DECIEM Beauty Group Inc. from 29% to ca. 76%. At a valuation of $2.2bn (4.8x LTM net sales of $460m), DECIEM is the Estée Lauder Companies’ largest ever acquisition, and ELC has agreed to purchase the remaining 25% stake after three years.
Nicole Kilner, CEO of DECIEM, said, “[DECIEM’s late founder] Brandon dreamed of ELC being the forever home for DECIEM, and we are truly humbled to achieve his vision today. Prudvi, Stephen, our team and I will continue to build on Brandon's creation, and we thank ELC for their continued commitment to our vision and future."
Baylor Klein acted as exclusive financial advisor to the selling shareholders on the deal.
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