Estee Lauder to buy Tom Ford in a deal valued at $2.8B

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Estee Lauder to buy Tom Ford in a deal valued at $2.8B
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Estee Lauder is acquiring luxury powerhouse Tom Ford in a deal valued at $2.8 billion, marking the beauty firm’s biggest acquisition yet.

FILE - Tom Ford attends the CFDA Fashion Awards at The Pool and The Grill on Nov. 10, 2021, in New York. in a deal announced Tuesday, Nov. 15, 2022. The Estee Lauder Cos. is acquiring luxury powerhouse Tom Ford in a deal valued at $2.8 billion, marking the beauty firm’s biggest acquisition yet.

While Estee Lauder said the deal values the total enterprise at $2.8 billion, the New York-based beauty company is expected to pay roughly $2.3 billion, after a $250 million payment from Italian eyewear manufacturer Marcolin SpA.Under the agreement, Tom Ford, founder and CEO of Tom Ford International, will remain the brand’s creative visionary through the end of 2023. Domenico De Sole, chairman of Tom Ford International, will stay on as a consultant until that same time.

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