The Estée Lauder Companies’ Acquisition Of Have & Be Co.


Lowenstein Sandler LLP and Kim & Chang served as legal counsel to The Estée Lauder Companies Inc. on the deal. Skadden, Arps, Slate, Meagher & Flom LLP and Bae, Kim & Lee LLC served as legal counsel to Have & Be Co. Ltd.

The Estée Lauder Companies Inc. (NYSE: EL) executed the acquisition of the shares that the company does not already beneficially own in Have & Be Co. Ltd. The Estée Lauder Companies has agreed to acquire the remaining two-thirds of Have & Be Co. Ltd., net of cash acquired and subject to certain post-closing adjustments.

Expected to close in December 2019, the acquisition follows the company’s December 2015 minority investment in Have & Be Co. Ltd. and is pursuant to an agreement made at that time.

In this transaction, Perella Weinberg Partners LP served as financial advisor to The Estée Lauder Companies Inc. Have & Be Co. Ltd. received financial advice from Michel Dyens & Co.

Based in Seoul, Have & Be Co. Ltd. is the global skin care company behind Dr. Jart+ and men’s grooming brand Do The Right Thing.

Since December 2015, when the company initially invested in Have & Be Co. Ltd., Dr. Jart+ has experienced significant growth and is expected to reach more than $500 million in net sales in calendar year 2019. Have & Be’s total enterprise is valued at approximately $1.7 billion.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance, and hair care products. The company’s products are sold in approximately 150 countries.

The Lowenstein team was led by partner Marita A. Makinen (Picture), and included Gina M. Seong, Darren Goodman, Doreen M. Edelman, Mary J. Hildebrand, Matt Savare, Michael Walutes, Jack Sidorov, Abbey E. Baker, Kate Basmagian, Manali Joglekar, Taryn E. Cannataro, Sophia Mokotoff, Carly S. Penner, Bryan Sterba, and Matthew Tippy.

Involved fees earner: Abbey Baker – Lowenstein Sandler LLP; Kate Basmagian – Lowenstein Sandler LLP; Taryn Cannataro – Lowenstein Sandler LLP; Doreen Edelman – Lowenstein Sandler LLP; Darren Goodman – Lowenstein Sandler LLP; Mary Hildebrand – Lowenstein Sandler LLP; Manali Joglekar – Lowenstein Sandler LLP; Marita Makinen – Lowenstein Sandler LLP; Sophia Mokotoff – Lowenstein Sandler LLP; Carly Penner – Lowenstein Sandler LLP; Matt Savare – Lowenstein Sandler LLP; Gina Seong – Lowenstein Sandler LLP; Jack Sidorov – Lowenstein Sandler LLP; Bryan Sterba – Lowenstein Sandler LLP; Matthew Tippy – Lowenstein Sandler LLP; Michael Walutes – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: Estée Lauder Companies Inc;