Major Beauty Brands Acquire Smashbox, Essie

Today, beauty media outlets buzzed about the newest acquisition in that market.

Estée Lauder has closed a deal in which they will buy Smashbox Beauty Cosmetics, Inc. The acquisition is expected to close in July 2010, subject to certain closing conditions, including regulatory approval, a release issued today said.

Just last month, L’Oréal USA announced that it would acquire Essie Cosmetics, the nail color company founded by Essie Weingarten in 1981.

The purchase price of neither transaction was disclosed.