Nesporo, the global coffee chain, has bought Betsey S. S. L. Beauty for $3.6 billion.
The investment was made in a combination of cash and shares.
The acquisition, which has been reported by Bloomberg, will create a larger company with a stronger presence in the cosmetics industry.
Nesporos portfolio includes brands like Nespaco, L’Oreal, Dior, Burberry, and Guerlain.
The sale was announced Thursday by Nespo, which said the new investment will support BetseyS.
Beauty, which sells beauty, skin care, personal care, fragrances, and household goods to businesses, universities, and others in the U.S. and Canada.
The company, which was founded in 1876, has more than 800 stores in 38 countries.
It also owns La Roche-Posay, a fragrance company.
The Betseys Beauty portfolio includes Betsey and Kate Cosmetics, a beauty and skincare line; L’Oréal, which makes beauty-care products; Nivea, which manufactures and sells natural hair care; and Cosmo, which provides cosmetics and hair care products.
The purchase also includes Cosme, a luxury fashion and beauty store that opened its first store in Paris in May.
Niveas chief executive officer and founder Alain Jarreau said the acquisition is an important part of Nespos broader strategy to become a global leader in personal care and beauty products.
“Nespresso has been building a stronger business for years, and this acquisition will help us further strengthen our portfolio, as well as build on the momentum that we are building in the beauty and personal care space,” Jarrea said.
“Betsey and her team have created a strong foundation for Betsey, and we are looking forward to seeing her success as she continues to deliver on her vision for Bette and her family.”
Betsey launched her beauty line in 2016 with the launch of the Nivella collection.
The products have quickly gained popularity and have been featured in magazines and other publications.
“I am proud of the products that Nespore has brought to the forefront of beauty, which we believe will serve the brand well in the years to come,” Betsey said in a statement.
The news comes as Nesprocas growing popularity has helped it grow its market share and its revenue to $6.6 trillion in 2017 from $5.6 to $4.9 trillion.
It is the world’s fourth-largest coffee chain after Starbucks, Starbucks, and Costa Coffee.
Betsey is the third wife of Italian billionaire Giuseppe Nespato, who owns the Italian sports club Juventus and the Italian soccer team Inter Milan.
Nesco, which started in 1888 and has offices in New York and Hong Kong, is based in the United States and Canada, with operations in the UK, Japan, Singapore, Germany, France, and Australia.
The transaction was completed in partnership with the European investment bank Goldman Sachs Group Inc. for which Nesroca serves as a unit.
Nesse also is a director and shareholder of Nesko, a financial services company that has operations in Switzerland, France and Austria.