US. The Estée Lauder Companies has completed its acquisition of Smashbox Beauty Cosmetics. The terms of the deal were not disclosed. The transaction is expected to be accretive to earnings in fiscal year 2011, before transaction and integration costs.
The Lauder group signed a definitive agreement to acquire Smashbox in May. “Adding Smashbox to our portfolio of brands will help strengthen our presence in prestige specialty channels worldwide, increase our product offerings in this important category and enhance our capabilities in digital media and direct response television,” noted The Estée Lauder Companies President & CEO Fabrizio Freda.
“We are energised by the promising momentum of Smashbox and believe the brand will help attract new and younger consumers to The Estée Lauder Companies all over the world.”
In June Lauder confirmed that on closing the Smashbox acquisition, Beth DiNardo would become Global General Manager of the brand. DiNardo will report to Caroline Geerlings, who will be taking on responsibility for new businesses. She in turn will report to Group President John Demsey.
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