The Estée Lauder Cos. has signed an agreement to acquire the Paris-based Darphin group of companies, according to a Form 8-K filed Monday with the Securities and Exchange Commission.
The filing didn’t include the financial terms of the deal. The deal is subject to significant conditions, including potential review by French competition authorities, and isn't expected to be complete until later in the fiscal year ending June 30.
The Darphin group develops, manufactures and markets the Darphin brand of skin care products. It was founded in 1958 by dermatological specialist Pierre Darphin. The group is owned and managed by Andre Benet and his family.
Under terms of the agreement, Mr. Benet will continue to direct Darphin’s creative activities, its manufacturing and the sale of Darphin products in Europe and through its distributors.