Estée Lauder Companies has announced its plans to acquire Canadian-based, multi-brand company DECIEM. Estée Lauder has set out a roadmap to increase its investment in DECIEM Beauty Group Inc. from approximately 29% to approximately 76% (the “First Phase”). The transaction is expected to close in the quarter ending June 30, 2021. The Estée Lauder Companies Inc. (“ELC”) has agreed to purchase the remaining interests after a three-year period (the “Second Phase”).

DECIEM was founded in 2013 by the late Brandon Truaxe. Its portfolio currently encompasses six brands, including The Ordinary. DECIEM’s range of “functional beauty” brands and products are sold primarily through DECIEM-owned and retailer e-commerce sites and speciality-multi stores, as well as its own freestanding stores, primarily in the United States, United Kingdom and Canada.