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.”

Featured Articles

Broadridge study reveals huge impact of AI on C-suite

Broadridge Financial Solutions spoke to 500 C-suite executives from across the globe, many of whom said AI was significantly changing the way they work

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

Technology & AI

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy