USA: Johnson & Johnson to acquire Vogue International
Johnson & Johnson has announced the acquisition of Vogue International, an American manufacturer and distributor of hair care and personal care products, for $3.3 billion in cash.
A deal for Vogue was first mooted at the end of May.
The acquisition will add brands such as OGX shampoos, conditioners, treatments and styling products, the FX line of hair styling products, Proganix and Maui Moisture hair care lines.
"Our acquisition of Vogue International’s full line of leading advanced hair care products sold in the U.S. and in 38 countries will strengthen our global presence in this important category. Vogue International’s commitment to quality, innovation, and consumer preference complement our Consumer portfolio, while also presenting attractive hair care category growth opportunities for Johnson & Johnson", commented Jorge Mesquita, worldwide chairman, Consumer, Johnson & Johnson.
The transaction is expected to be closed during the third quarter of 2016.
Source: Johnson & Johnson / Bloomberg