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Estée Lauder closes acquisition of Dr. Jart+ owner Have & Be

The Estée Lauder Companies Inc. said Dec. 17 that it completed its acquisition of HAVE & BE Co. Ltd., the South Korean company behind skin care brand Dr. Jart+.

Financial terms were not disclosed.

Dr. Jart+ produces the Cicapair and Ceramidin skin care collections, which are sold in more than 35 countries. The beauty products maker previously said the move will strengthen its position as a leading skin care company and will help expand its reach across Asia-Pacific, North America and the U.K.

Estée Lauder said when it announced the move in November that the deal marks the company's first takeover of an Asian cosmetics brand.