The Estée Lauder Companies to Acquire Dr.Jart+
PRESS RELEASE – 18/11/2019
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has signed an agreement to acquire the shares that it does not already beneficially own in Have & Be Co. Ltd., the Seoul-based, global skin care company behind Dr. Jart+ and men’s grooming brand Do The Right Thing […]
Dr. Jart+ is expected to help further strengthen The Estée Lauder Companies’ leadership position in skin care, and will especially help expand the Company’s consumer reach in Asia/Pacific, North America, the United Kingdom and travel retail. This is the Company’s first acquisition of an Asia-based beauty brand. […]
Since December 2015, when the Company initially invested in Have & Be Co. Ltd., Dr. Jart+ has experienced significant growth and is expected to reach more than $500 million in net sales in calendar year 2019. Have & Be’s total enterprise is valued at approximately $1.7 billion, and The Estée Lauder Companies has agreed to acquire the remaining two-thirds of Have & Be Co. Ltd., net of cash acquired and subject to certain post-closing adjustments. […]
“The entrepreneurial spirit and creativity of Dr. Jart+ is a perfect fit for The Estée Lauder Companies,” said William P. Lauder, Executive Chairman of The Estée Lauder Companies Inc. “As consumers increasingly focus on skin care and the category continues its rapid global growth, the influence of cutting-edge, scientifically-driven brands like Dr. Jart+ is undeniable. We are delighted to welcome ChinWook Lee and his entire team to our family.” […]
Have & Be Co. Ltd. received financial advice from Michel Dyens & Co. […]