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The Estée Lauder Companies (ELC) has announced it has completed its acquisition of the Canadian-based, multi-brand company Deciem Beauty Group in a deal worth around $860m (£673m).
ELC first invested in Deciem in 2017, increased its stake to become majority owner in 2021, and recently exercised its option to purchase the remaining interests in Deciem after a three-year period.
Known as ‘The Abnormal Beauty Company’, Deciem is known for its flagship brand, The Ordinary which operates in Canada and the US, France, Germany, and the UK.
ELC said The Ordinary is in its tier of scaling brands, each with net sales between $500m (£391m) and $1bn (£783m). Over the last two years, enabled by ELC’s international expertise and network, The Ordinary has expanded its consumer reach globally with launches in key markets including India, the Middle East, and South Africa.
Fabrizio Freda, president and CEO at ELC, said: “We are incredibly proud of what Deciem is accomplishing. In our seven years of partnership, Deciem has achieved impressive growth while continuing its core mission of reimagining effective, high-quality skin care for today’s diverse and sophisticated consumers. As a digitally native organisation with a highly engaged following among millennial and Gen Z consumers, Deciem helps to strategically expand our skin care portfolio, and we believe there are many more exciting growth opportunities ahead.”
Nicola Kilner, co-founder and CEO Deciem, added: “Today The Estée Lauder Companies becomes the forever home of Deciem. Our founder Brandon set out to disrupt the world of beauty, and this thinking has been embraced by ELC over the past seven years of our partnership. Their support, along with the energy of our incredibly talented team, has allowed us to strengthen our operational capabilities and enter new markets, while staying true to our founding values of transparency, quality, and authenticity.”
