Estée Lauder to Buy Tom Ford in $2.8 Billion Deal

New York-based Estée Lauder Cos. has agreed to buy Tom Ford for $2.8 billion, according to a source close to the beauty conglomerate.

The completion of the deal, which was first reported by the Wall Street Journal, is slated to be announced on Tuesday. While Estée Lauder is the main buyer, there may be multiple partners involved, as the beauty conglomerate is unlikely to attempt to enter the ultra-competitive luxury fashion space on its own….