Estée Lauder Cos. (NYSE: EL) has agreed to buy skincare products company Becca Cosmetics from Luxury Brand Partners. Terms were not disclosed. The acquisition will help the target expand globally, while growing its e-commerce presence.
Becca is known for selling primers, concealers, foundations and blushes under its own brand. The company sells its products in major retailers such as Sephora. It also has an agreement to expand in additional Sephora stores across Asia, Europe and the Middle East. Beauty conglomerates, including New York-based Estée Lauder, have been looking to reach new customers in Asia through M&A.