The Estée Lauder Cos. Inc. (New York) will buy a majority stake in Deciem, parent company of skin care brand The Ordinary, reports WWD. The deal is valued at $2.2 billion.
Lauder owns a 29 percent stake in Deciem and will pay $1 billion to increase its stake to 76 percent. In three years, Lauder will reportedly acquire the balance of the company at a valuation to be determined.
Deciem nearly doubled its sales in 2020, to approximately $460 million. The majority of those sales were generated by The Ordinary brand.