Estée Lauder completes DECIEM acquisition for ~$860M remaining stake

ESTEE LAUDER COMPANIES INC

Closed purchase of remaining DECIEM interests on May 31, 2024 for estimated $860M cash.
Total investment net of cash across three tranches approx $1.7B, subject to post-closing adjustments.
DECIEM's The Ordinary ranks top two in prestige skin care in U.S. and Canada as of Q1 2024.
The Ordinary is a scaling brand with net sales between $500M and $1B, expanding ELC's skin care portfolio.
DECIEM also owns NIOD and AVESTAN; headquartered in Toronto with five in-house labs.

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