One of the most iconic beauty brands in the world is changing.
Its founder, Jordana cosmetics founder Jordana Bex, has sold the company to Mendel Foundation (MFF) for an undisclosed amount.
It has been estimated that the sale will bring in $500 million.
Jordana is currently the largest cosmetics company in the UK with 2.6 million followers on Instagram.
Its new brand, Mac cosmetics, is based on the popular Beautyblend line, which has a large number of beauty products.
The brand has already sold off its makeup collection and is looking to diversify its portfolio into skincare, beauty products and hair care.
The sale will make Mac cosmetics the largest beauty company in Europe, with more than $8 million in revenue in 2016, according to data from Euromonitor International.
Mac cosmetics sold $10 million worth of products in the first quarter of 2017.
In addition to the sale of Mac cosmetics to MFF, Bex will also be leaving the company, according the New York Times.
According to the New Yorker, BEx’s current role will be to oversee the cosmetics division of MFF.
The New Yorker reports that Bex is a former cosmetics executive and a former owner of beauty brand, Cosmopolitan.
She was hired as a senior vice president in October 2017.