Estee Lauder's $300 mil. Aveda purchase is exposure to New Age philosophy.

ESTEE LAUDER's AVEDA BUY POSITIONS SALON HAIR CARE FIRM FOR OVERSEAS GROWTH, a strategy Aveda has been considering as it plans for future expansion, the hair care company said. Announced by the two companies Nov. 19, Estee Lauder's acquisition of Minneapolis-based Aveda Corp. for $300 mil. in cash will allow Aveda to pursue international expansion through Lauder's "strong distribution channels" in more than 100 international markets, Aveda said. The hair care retailer's business is concentrated predominately in the U.S., with overseas operations generating 12% of annual sales (including Canada).