The Estee Lauder Companies Inc acquires minority stake in Forest Essentials brand

Mon. July 21, 2008; Posted: 07:18 AM

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Jul 21, 2008 (M2 EQUITYBITES via COMTEX) -- EL | Quote | Chart | News | PowerRating -- The Estee Lauder Companies Inc (NYSE:EL), a manufacturer and marketer of skin care, makeup, fragrance and hair care products, said on 18 July that the company has purchased a minority stake in a privately held Indian company that manufactures, markets and sells beauty products under the Forest Essentials brand, based on Ayurvedic formulations.

The Estee Lauder Companies said that Forest Essentials uses pure essential oils and natural plant extracts in its range of skin, body and hair care products. Its portfolio is sold in the company's seven freestanding stores and in high-end hotels and spas across India.

The Indian company's products are reportedly rooted in age-old treatments from ancient Ayurvedic scriptures, updated with innovative textures and scents.

The financial terms of the agreement were not released.

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For full details on Estee Lauder Companies Inc (EL) click here. Estee Lauder Companies Inc (EL) has Short Term PowerRatings of 3. Details on Estee Lauder Companies Inc (EL) Short Term PowerRatings is available at This Link.

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