Estee Lauder Buys Too Faced for $1.45 Billion
Shares of The Estée Lauder Cos. EL were in focus on Tuesday after making its biggest acquisition yet.
Shares of The Estée Lauder Cos. (EL) - Get Report were in focus on Tuesday after making its biggest acquisition yet. Estee Lauder has agreed to buy makeup brand Too Faced for $1.45 billion from private equity firm General Atlantic. The makeup brand is expected to have sales of approximately $270 million for 2016 and should help Estee Lauder expand in e-commerce and specialty stores. The deal is expected to close in December.
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