The Estée Lauder Companies’ Statement on Potential Transaction with Puig

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Key Terms

business combination financial

A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.

forward-looking statement regulatory

A forward-looking statement is a prediction or expectation about a company's future performance, plans, goals, or financial results based on current assumptions. Investors care because these statements set expectations—like a weather forecast for a business—and carry uncertainty, so comparing them to actual outcomes helps assess risk, the reliability of management, and whether an investment’s future outlook is realistic.

03/23/2026 - 04:15 PM

NEW YORK--(BUSINESS WIRE)-- The Estée Lauder Companies Inc. (NYSE: EL) confirms that it is in discussions regarding a potential business combination with Puig, in which the two companies would potentially merge their businesses. No final decision has been made, and no agreement has been reached. Unless and until an agreement is signed between the companies, there can be no assurances regarding the deal or its terms.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding a potential transaction and the anticipated timing, terms, and completion of any such transaction.

Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the possibility that no agreement will be reached, that required regulatory approvals may not be obtained, or that other conditions to a potential transaction may not be satisfied.

There can be no assurance that any transaction will be consummated or, if consummated, as to its timing or terms. The Estée Lauder Companies undertakes no obligation to update any forward-looking statements, except as required by law.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.

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