Estée Lauder Acquires Tom Ford in $2.8 Billion Deal; Designer May Exit at End of 2023

After months of speculation, Estée Lauder Cos. announced Tuesday that it has agreed to buy the Tom Ford brand in a $2.8 billion deal.

The beauty conglomerate will pay approximately $2.3 billion, with the brand’s eyewear partner, Marcolin, paying Estée Lauder $250 million at the closing. Lauder said it would fund the transaction through cash, debt and $300 million in deferred payments, which are due in July 2025. The deal is expected to…