Johnson & Johnson reaches agreement to acquire Ci:z for US$2.1bn

By erptre fusion
Healthcare-focused American giant Johnson & Johnson (J&J) has announced an agreement to acquire the outstanding shares of Japanese firm Ci:z for US$2.1bn (¥230bn) in a 23 October statement
 
Ci:z, focused on the development, marketing, and distribution of a range of dermatological and cosmetic products, offers J&J the opportunity to significantly strengthen its market share in the Japanese market.
 
J&J’s statement added that the acquisition will allow it to “more broadly bolster its offering in science-based, efficacious dermocosmetic brands.”
 
Jorge Mesquita, worldwide chairman of Johnson & Johnson Consumer, said in the statement:
 
“Health and beauty consumers are actively seeking science-based innovation to improve their skin.”
 
See more:
 
 
“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 plans to launch the tender offer on 29 October, with the deal expected to close in Q1 2019.
 
Reuters noted that this is the latest in a slew of deals for cosmetics firms in Asia over the past few years, “as global brands seek to expand in a booming region that includes the $53.5 billion China market by leveraging Asian brands’ smart online marketing and fast turnaround times for new products.”
Share

Featured Articles

Microsoft, McDonald’s latest firms to run civil rights audit

Microsoft and McDonald’s join Amazon, Citi, JPMorgan and others in conducting civil rights audits, as investor pressure to achieve racial equity mounts

Deep dive: Investment in carbon capture rises as CO2 spikes

Investment in carbon removal solutions and startups is heating up as fast as the planet, with Temasek and CEMEX Ventures the latest VCs to launch funds

Dialight envisions a safe industrial world with LED lights

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, cyber, 5G, cloud speakers at TECH LIVE LONDON

Technology & AI

Eight big announcements made at Davos 2022, from ESG to tech

Sustainability

Hear Vodafone Business cyber chief Kawalec at Cyber LIVE

Leadership & Strategy