08:35 AM EDT, 06/03/2024 (MT Newswires) -- Estee Lauder ( EL ) said Monday it has completed its acquisition of DECIEM Beauty Group after exercising an option to purchase the remaining interests in the Canadian company for around $860 million in cash.

Estee Lauder ( EL ) first invested in DECIEM in 2017 and became a majority owner in 2021.

Its total investment is around $1.7 billion net of cash, the company said Monday.

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