Estee Lauder Cosmetics plans to acquire the photo-studio born makeup company Smashbox Beauty Cosmetics Inc., reported Women's Wear Daily. Lauder announced last Monday that it signed a definitive agreement to buy the L.A-based company. The deal is scheduled to close in July. Smashbox Cosmetics was founded by the great-grandsons of Hollywood makeup artist Max Factor, Dean and Davis Factor (they're practically makeup royalty!) in 1996 and generates about $80 million in wholesale net revenue and roughly $140 million in retail sales, a source told WWD.