Benzinga | May 18, 2021 04:01PM EDT

The Este Lauder Companies Raises Stake In DECIEM From 29% To 76%, Agreed To Purchase Remaining Interest After Three-Year Period At Price That Will Be Based On Future Performance Of DECIEM

ELC has closed the previously announced deal to expand its investment in the company behind fast-growing skin care brands The Ordinary and NIOD

The Est?e 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 Est?e 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.