Californian marketer of mineral-based cosmetics, Bare Escentuals, has announced that it has entered into a definitive agreement pursuant to which Shiseido, will acquire Bare Escentuals for approximately US$1.7 billion.

Trough this agreement, the Japanese cosmetics leader is strengthening its position in North America, and intends to accelerates Bare Escentuals’ growth outside of North America, including in high-growth markets throughout Asia.

Bare Escentuals’ business will operate as a separate division of Shiseido and its brands will continue to be managed by the current leadership team.