Estee Lauder to buy makeup brand Too Faced for about $1.45 billion

(Reuters) - Cosmetics maker Estee Lauder Cos Inc said on Monday it would buy makeup brand Too Faced for about $1.45 billion, as the company looks expand its offerings for millenials.

Too Faced, launched in 1998 by Jerrod Blandino and Jeremy Johnson, is expected to have sales of more than $270 million in 2016, Estee Lauder said.

(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)