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.
Becca, located in New York, has been owned by Luxury Brand Partners since 2012. Luxury Brand Partners develops and grows beauty brands.
“We see terrific growth opportunities for Becca, as it expands globally and continues to cultivate its online and digital expertise,” says Estée Lauder CEO Fabrizio Freda. Estée Lauder owns the Clinique brand.
UBS and Lowenstein and Sandler LLP are advising Estée Lauder. Piper Jaffray Cos. (NYSE: PJC) and Greenberg Traurig are advising Becca.