The Estée Lauder Companies (ELC) has completed its US$1.7 billion acquisition of Deciem, the parent company of The Ordinary and Niod.
ELC first invested in Deciem in 2017 and increased its stake to become majority owner in 2021, as BD reported here.
And now, most recently the company has exercised its option to purchase the remaining shares for an estimated US$860 million, taking the deal total to around US$1.7 billion, as reported by WWD.
"We are incredibly proud of what Deciem is accomplishing," said ELC president and chief executive officer, Fabrizio Freda.
"In our seven years of partnership, Deciem has achieved impressive growth while continuing its core mission of reimagining effective, high-quality skin care for today’s diverse and sophisticated consumers."
"As a digitally native organization with a highly engaged following among Millennial and Gen Z consumers, Deciem helps to strategically expand our skin care portfolio, and we believe there are many more exciting growth opportunities ahead," said Freda in the statement.
In ELC's most recent quarterly results, Freda said The Ordinary was one of five brands driving organic sales growth, with hero products and highly sought innovation.
"Today, the Estée Lauder Companies becomes the forever home of Deciem," said Deciem co-founder and CEO, Nicola Kilner.
"Our founder Brandon [Truaxe] set out to disrupt the world of beauty, and this thinking has been embraced by ELC over the past seven years of our partnership."
"Their support, along with the energy of our incredibly talented team, has allowed us to strengthen our operational capabilities and enter new markets, while staying true to our founding values of transparency, quality and authenticity."
Image credit: Deciem
