The Estée Lauder Companies to Acquire BECCA Cosmetics
The Estée Lauder Companies Inc. (NYSE:EL) announced today that it has signed an agreement to acquire BECCA Cosmetics, a high-growth makeup brand offering complexion and color products that flatter a wide range of skin tones and enhance women’s features. Terms of the deal were not disclosed. The acquisition is expected to close in November 2016.
Launched in 2001, BECCA Cosmetics has experienced exceptional growth over the last several years, with a curated product line that includes primers, concealers, foundations, blushes and highlighters that use the beauty of light to enhance the complexion. Most of the brand’s foundations are available in up to twenty shades, with half designed for medium to deep tones and half designed for light to medium tones. This commitment to developing premium, luxurious products in a balanced range of wearable shades for all skin tones makes BECCA a highly coveted brand for women of all ages and ethnicities.
Since 2011, BECCA has been led by President and CEO Robert DeBaker, and CFO/COO James MacPherson, and has been part of Luxury Brand Partners’ portfolio since 2012. The brand has a robust presence in specialty-multi retailers Sephora and Ulta in North America, and is also sold in select department stores, as well as through BECCACosmetics.com. While the majority of the brand’s sales are in North America, it is currently engaged in a strategic global expansion with Sephora across Southeast Asia, Europe and the Middle East. BECCA has a strong social media presence, with more than one million Instagram followers, and an engaged consumer base of all ages and backgrounds.
“BECCA Cosmetics is a wonderful addition to our portfolio of prestige beauty brands,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies Inc. “Its unique focus on complexion products that flatter a wide range of skin tones, combined with its sophisticated yet accessible consumer and digital engagement across channels has inspired a devoted fan base. We see terrific growth opportunities for BECCA as it expands globally and continues to cultivate its online and digital expertise. We are excited to work with Bob, Jim, and the entire BECCA team to continue building on the brand’s terrific success.”
“The Estée Lauder Companies is the ideal home for BECCA,” said Bob DeBaker, President and CEO of BECCA Cosmetics. “The Company has the scale and vision to help elevate BECCA to its next phase of growth while encouraging us to continue to build our unique brand equity. We believe that beauty products should reflect a diverse range of skin tones and help all women create a naturally beautiful, yet individual look – and ELC is incredibly supportive of our mission. We’re thrilled to be joining the team.”
Recently, BECCA has established itself as the authority in using its expertise in the beauty of light to create a variety of effects and benefits – from highlighting to blurring to a soft-focused halo effect. The now-iconic Shimmering Skin Perfector Pressed in Champagne Pop, which was created in 2015 in collaboration with celebrated makeup artist and YouTube sensation Jaclyn Hill, was a consumer favorite and became the top-selling luminizer of the year in the United States.
“The BECCA philosophy of inclusive beauty is a terrific match for The Estée Lauder Companies,” said William P. Lauder, Executive Chairman, The Estée Lauder Companies Inc. “One of our leading strengths is the ability to identify brands with unique positioning and nurture them to realize their full growth potential. We are so pleased to partner with Bob and Jim to continue this legacy, and we welcome them and their team to our family.”
“The Estée Lauder Companies is the perfect company to take BECCA to the next level, especially on a global scale. I have so much respect for The Estée Lauder Companies, making this the perfect fit,” said Tevya Finger, President and CEO of Luxury Brand Partners.
John Demsey, Executive Group President, The Estée Lauder Companies Inc., will add BECCA Cosmetics to the portfolio of brands that he oversees.
In this transaction, UBS served as financial advisor to The Estée Lauder Companies Inc., while Lowenstein Sandler LLP served as legal counsel. BECCA Cosmetics received financial advice from Piper Jaffray and legal counsel from Greenberg Traurig.
The forward-looking statements in this press release, including those in the quoted remarks and those relating to the expectations for the acquired brand and the benefits of the acquisition, involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, actions by retailers, suppliers and consumers, competition, the Company’s ability to successfully integrate the acquired business and/or implement its long-term strategic plan, and those described in the Company’s annual report on Form 10-K for the year ended June 30, 2016.
About The Est ée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW and By Kilian.
The Estée Lauder Companies Inc.
Dennis D’Andrea, (212) 572-4384
Jill Marvin, (212) 572-4438
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