Lowenstein represented The Estée Lauder Companies Inc. (ELC) (NYSE: EL) in an agreement to increase its investment in the Canadian-based, vertically integrated, multi-brand company, DECIEM Beauty Group Inc. (DECIEM) from approximately 29 percent to approximately 76 percent. ELC has agreed to purchase the remaining interests after a three-year period.
ELC is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance, and hair care products.
Known as “The Abnormal Beauty Company,” DECIEM is an industry disruptor with a consumer-focused approach. Its range of “functional beauty” brands and products are sold primarily through DECIEM-owned and retailer e-commerce sites and specialty-multi stores, as well as its own freestanding stores, primarily in the United States, the United Kingdom, and Canada.
The transaction is expected to close in the quarter ending June 30, 2021. The amount to be paid by ELC at closing is approximately USD $1.0 billion, reflecting a total enterprise value of approximately USD $2.2 billion for the first phase of the agreement.
The Lowenstein team included Marita A. Makinen, Annie Nazarian Davydov, Doreen M. Edelman, Andrew P. Erdmann, Darren Goodman, Mary J. Hildebrand CIPP/US/E, Eric Jesse, Michael J. Reinhardt, Jeffrey M. Shapiro, Traci M. Tomaselli, Jack Sidorov, Michael Walutes, Abbey E. Baker, Kate Basmagian, Matthew P. Hintz, Megan Monson, Manali Joglekar CIPP/US/E, Bryan Sterba, Lauren E. Killeen, Timothy J. Nichols, Jacob D. Unger, and Revel Atkinson.
About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
Stephen J. Kimmerling
Director, Marketing Communications
Lowenstein Sandler LLP
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