Estee Lauder Inc., New York, is acquiring Aveda Corp., Minneapolis, for $300 million in cash. Aveda markets premium hair, skin and makeup products, primarily through professional salons. Horst Rechelbacher, Aveda's founder, will continue as that company's chairman. This is the second acquisition by Lauder in recent months. In September, the company bought Sassaby, which markets jane, a fast-growing line of cosmetics popular with young women. Lauder's advertising is created in-house with media-buying duties handled by Bates Worldwide, New York. Brash, New York, handles jane.
Copyright November 1997, Crain Communications Inc.