Puig Acquired by Estée Lauder | Consumer M&A Deal

Estée Lauder has completed the acquisition of Puig, a consumer brands dtc business in Spain, for $40 billion. Puig is a Spanish beauty conglomerate with brands including Estée Lauder peer labels, while Estée Lauder is a global cosmetics company seeking scale and portfolio expansion through consumer M&A. Estée Lauder acquisitions were expected to support its Beauty Reimagined turnaround plan, as analysts cited added complexity for the strategic acquisition. The merger acquisition talks were terminated, and Estée Lauder reiterated confidence in operating as a standalone company, with the strategic acquisition valued at more than $40 billion in early estimates.