Estee Lauder is buying Tom Ford

Estée Lauder is buying Tom Ford in a deal valued at about $2.8 billion. Estée Lauder is buying Tom Ford in what executives said Tuesday would be its biggest acquisition to date, in a deal valued at about $2.8 billion. Estée Lauder emerged victorious in a bid for the high-end fashion brand that was competing with big names in luxury including Kering SA. Estée Lauder is expected to pay about $2.3 billion, excluding a $250 million payment from Italian eyewear maker Marcolin SpA, which has its own licensing deal with Tom Ford. It plans to finance the transaction through a combination of cash, debt and $300 million in deferred payments to vendors due in July 2025. The transaction, which is still subject to regulatory approvals, is expected to close in the first half of 2023.