WASHINGTON (dpa-AFX) - Beauty and personal care products maker Estée Lauder Companies Inc. (EL) has agreed to acquire Le Labo, the high-end fragrance and sensory lifestyle brand, for undisclosed terms. The acquisition may close in November 2014.
Le Labo would be overseen by John Demsey, The Estée Lauder Companies' Group President, responsible for Estée Lauder, M·A·C, Tom Ford, Prescriptives, Bobbi Brown, Jo Malone, La Mer, Bumble and bumble, Smashbox and Aramis & Designer Fragrances.
Founded in 2006, Le Labo offers a highly selective assortment of exceptional fragrance and sensory lifestyle products in minimalistic retail environments, including the brand's freestanding stores in New York, London, Paris, Los Angeles, San Francisco, Tokyo and Hong Kong, as well as select prestige department stores in global flagship cities, and the brand's website. Le Labo has offices in New York and London.
In this transaction, BNP Paribas served as financial advisor to The Estée Lauder Companies Inc., while Lowenstein Sandler LLP and Wragge, Lawrence, Graham & Co. served as legal counsel. Le Labo received financial advice from Savigny Partners LLP and legal counsel from Barack Ferrazzano Kirschbaum & Nagelberg LLP.
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