Estée Lauder closes Too Faced acquisition deal

Cosmetics firm The Estée Lauder Companies has completed the acquisition of makeup brand Too Faced.

Founded in 1988 by Jerrod Blandino and Jeremy Johnson, Too Faced includes cosmetic products for the eyes, face and lips. The brand's products feature unique formulas, product names, and packaging. Its Instagram page has more than 7.6 million followers.

Estée Lauder Companies agreed to acquire Too Faced for $1.45bn in November. The acquiring company's president and chief executive officer Fabrizio Freda said: “Too Faced is one of the most dynamic makeup brands in the world.

“It has tremendous growth momentum in specialty-multi and online, which are important, strategic, and fast-growing channels. With Too Faced, we see terrific opportunity for additional value creation through expansion in new and existing markets both in the US and internationally, as well as in travel retail globally.

"Jeremy, Jerrod, Eric, and the entire Too Faced team have built an amazing and innovative brand. We look forward to working with them to continue to build on the brand’s winning spirit.”

Since 2015, Too Faced has been a part of the portfolio of a growth equity firm General Atlantic. 

The Estée Lauder Companies develops skincare, makeup, fragrances, and haircare products, which are sold across 150 countries. It includes brands such as Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, MAC, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, and Michael Kors.

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Image: Estée Lauder counter in a department store in New Zealand. Photo: courtesy of Pear285/Wikipedia.