Estee Lauder announced last week that it is to make the biggest acquisition in its history with the purchase of cult cosmetics brand, Too Faced.
With a majority stake sold back in 2015 to private equity firm General Atlantic, Too Faced was reportedly valued at $500 million. Seemingly, the brand appears to have almost tripled in value, being sold to Estee Lauder for $1.45 billion in an impending deal set to close before the end of December.
Too Faced was founded back in 1998 by former Estee Lauder employees Jerrod Blandino and Jeremy Johnson. Famed for its kitsch packaging and highly pigmented products, the brand has gone from strength to strength over the years and is renowned for its commitment to being 100% cruelty-free and its extensive offering of vegan cosmetics.