REUTERS/Mike Blake
Johnson and Johnson wants to own the rest of a Japanese cosmetic firm that it doesn’t already own.
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The healthcare conglomerate is offering 2.1 billion dollars for Ci:z Holdings.
The bid of 5,900 yen per share is a 55 percent premium.
The Company’s skincare portfolio is expected to strengthen Johnson & Johnson’s market presence in Japan with key customers, and more broadly bolster its offering in science-based, efficacious dermocosmetic brands.
“Health and beauty consumers are actively seeking science-based innovation to improve their skin,” said Jorge Mesquita, Worldwide Chairman, Johnson & Johnson Consumer. “This transaction will maximise value creation for Johnson & Johnson’s Consumer business by bringing in an agile innovation model and rapidly accelerating sales through our global commercialization expertise.”
J&J is currently the second largest shareholder in the company, owning almost 20 percent through its affiliate.
