Estee Lauder to buy make-up brand Too Faced for US$1.45b

New York

ESTEE LAUDER Cos, making the biggest acquisition in its history, has agreed to buy cosmetics company Too Faced for about US$1.45 billion, scooping up a makeup brand that is popular with millennials.

Too Faced, which is expected to top US$270 million in net sales this year, will help Estee Lauder expand in e-commerce and speciality stores, according to a statement on Monday. The purchase is expected to be completed next month.