Shiseido to buy Drunk Elephant

Shiseido Co Ltd said Oct. 8 that it agreed to buy Drunk Elephant. Financial terms weren’t announced but press reports peg the deal at $845 million. Drunk Elephant is a skin care brand. VMG Partners and Leandra Medine invested $8.3 million in Drunk Elephant in 2017, PitchBook said. Jefferies provided financial advice to Shiseido.

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