The potential deal would be Estée Lauder’s biggest acquisition ever.
According to a report from the Financial Times, The Estée Lauder Companies is nearing a deal to purchase Tom Ford for about $2.8 billion, including debt, beating out competition from other suitors.
A deal could be announced as early as Monday, the FT reported.
The potential deal would be Estée Lauder’s biggest acquisition ever, but Estée Lauder is not the only suitor for Tom Ford.
According to Reuters, Kering, the owner of Gucci, was the front runner for the deal and in talks to acquire Tom Ford at one point, however, it appears that The Estée Lauder Companies has beat them out.
Estée Lauder would be a newcomer to haute couture, but the company has had a licensing deal with Ford for years.