Big news skincare fans and fanatics. Deciem, the Canadian company behind ultra-popular line The Ordinary, was just bought out by Estee Lauder, valuing the company at a whopping $2.2 billion in US green.
Luckily, this insane deal doesn’t look like it’s going to affect any of their products so rest easy… but stay observant!
Deciem, which was started in Toronto in 2012 and has grown a large, loyal following, will begin the first phase in its very expensive transfer of power when the deal officially closes on June 30th of this year.
View this post on Instagram
Phase one will see Estee Lauder’s stake in the company skyrocket from 29% to 76% for a total of $1 billion USD. Then, after a three-year period, they will buy the remaining interests for an undetermined price.
Though we’re not quite sure how to feel or what to make of it, we hope that all goes well… and that, unlike other companies who have purchased beloved brands, they refrain from messing around with any of their formulas.
This will be an interesting year for the Deciem, so stay tuned, keep your faces clean, and your skin hydrated. This company is one to watch!