Too Faced Cosmetics LLC in Irvine will sell for the second time in 18 months, with a deal pegged at nearly $1 billion more than last year’s price tag.

Estee Lauder Cos. Inc. in New York agreed to buy the makeup brand for $1.45 billion in a deal expected to close in December.

Private equity firm General Atlantic LLC, also in New York, bought a majority stake in Too Faced in June 2015 from Boston-based private equity investor Western Presidio for $500 million.

Western Presidio had bought most of Too Faced in 2012 for $71 million from Jerrod Blandino and Jeremy Johnson, who cofounded the company in 1998.

Estee Lauder was reportedly a bidder for the company last year when it eventually sold to General Atlantic.

Too Faced—edgy in its product-naming and popular with millennial generation customers—is seen as a way for Estee Lauder to attract younger customers and grow its e-commerce revenue. Too Faced, meanwhile, is expected to benefit from access to the larger and older acquiring company’s global distribution network.

Too Faced sells in about 3,000 locations, about three-fourths of them in the U.S. The retail lineup include Macy’s Inc., Sephora USA Inc. and Ulta Salon Cosmetics.

Too Faced expects sales this year of about $270 million, up 70% year-over-year. Estee Lauder traded at a recent market cap of about $29 billion and had $11.2 billion in revenue for its fiscal year ended June 30.

The company has about seven years left on its lease for its 31,615-square-foot headquarters at 18231 W. McDurmott, a two-story building near the intersection of the San Diego (405) and Costa Mesa (55) freeways.

It had an estimated 60 employees in Irvine at the time of its sale last year to General Atlantic.