Beiersdorf AG announced Tuesday that it had entered into a definitive agreement to acquire Chantecaille Beaute Inc., USA, a prestige beauty company with a natural positioning founded by Sylvie Chantecaille in 1997. The company is looking to end 2021 with $100 million in sales. According to a release issued by Beiersdorf, the value of the deal is between $590 million and $690 million, depending on the future development of the Chantecaille business. The company will continue to be managed separately, along with La Prairie, another prestige beauty brand owned by Beiersdorf. The completion of the transaction is subject to merger control clearance as well as further customary closing conditions and is expected to close in the first quarter of 2022.

Chantecaille, which is based in New York, uses botanical ingredients combined with science in its skin care, fragrance, and cosmetics products. The brand has a strong focus on sustainability and philanthropy.

In 2019 Sylvie was recognized by CEW as an Achiever Award Honoree, the beauty industry’s highest honor spotlighting achievement in business and leadership. At the time, Sylvie said that success is not an overnight phenomenon, and that working hard is what it takes to make it as an entrepreneur.

“Don’t be fooled by the story told of fortune made overnight. This is a hard business and it takes a lot of work,” Sylvie to CEW’s news arm, Beauty News. She added that her greatest accomplishment was her dedication to philanthropy, and to also being one of the first natural brands. “I am so proud that our philanthropy collections resonate with people. Also, that we were one of the first companies to really be natural—now everyone realizes that natural is the way it should be.”

Vincent Warnery, Chief Executive Officer of Beiersdorf, said the acquisition bolsters the company’s prestige beauty portfolio and strengthens its position in the United States, China and Korea.

Sylvie, CEO and founder of Chantecaille, said of the deal, “We looked very carefully for a great steward that could help take Chantecaille to the next level and continue to further Chantecaille’s acceleration as a leader in natural beauty. The fact that Beiersdorf shares the same core values made them an ideal choice.”

Lazard acted as financial advisor to Beiersdorf, while Freshfields Bruckhaus Deringer provided legal advice. Jefferies acted as financial advisor to Chantecaille, while Kirkland & Ellis provided legal advice.