The Estée Lauder Companies Inc. (NYSE:EL) completed the acquisition of the remaining 49% stake in ELCA Cosmetics Limited from Gr. Sarantis S.A. for €55.2 million.
June 15, 2022
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The Estée Lauder Companies Inc. (NYSE:EL) agreed to acquire the remaining 49% stake in ELCA Cosmetics Limited from Gr. Sarantis S.A. (ATSE:SAR) for €55.2 million on June 15, 2022. The amount of €14 million was paid on June 16, 2022, and the balance will be paid in two equal installments of €20.6 million, in January 2025 and in January 2028. Grigoris Sarantis, will cooperate with and assist Estee Lauder during the transition period, for one year.
The Estée Lauder Companies Inc. (NYSE:EL) completed the acquisition of the remaining 49% stake in ELCA Cosmetics Limited from Gr. Sarantis S.A. (ATSE:SAR) on June 16, 2022.
Sarantis S.A. is one of the world's leading distributors of branded consumer products. Net sales break down by family of products as follows:
- cosmetic products (42.3%): perfumery and toiletry products (Antonio Banderas, BU, C.THRU, Denim, Elode, Myrto, Noxzema, Prosar, STR8, Tesori l'Oriente and Vidal), skin care products (Astrid, Bioten, Elmiplant and Kolastyna), sun screen products (Carroten, Coppertone and Piz Buint) and hair care products (Final Net and Orzene Beer);
- household products (39.8%): food preservation products (Domet, Fino, Fox, Grosik, Hewa, Jan, Korunka Sanitas and Topstar), home maintenance equipment (Afroso, Ava, Flame, Septifos and Tuboflo), insecticides (Globol, Pyrox and Teza), shoe creams (Camel), etc. ;
- other (12.4%): including health care products, dietary supplements, pregnancy tests, etc.
The remaining net sales (5.5%) are from the manufacturing of plastic packaging products (Label Polipak).
At the end of 2020, the group operated a network of nearly 110,000 sales outlets in Europe.
Net sales are distributed geographically as follows: Greece (34.6%), Poland (23.6%), Romania (14%), Ukraine (7.1%), Czech Republic (5.2%), Serbia (5.1%), Bulgaria (3.3%), Hungary (2.6%) and others (4.5%).
The Estée Lauder Companies Inc. (NYSE: EL) completed the acquisition of the remaining 49% stake in ELCA Cosmetics Limited from Gr. Sarantis S.A. for €55.2 million.
SARANTIS S.A. 
