Johnson & Johnson to buy hair-care company Vogue International for $3.3 bn
02 June 2016
Johnson & Johnson (J&J) today struck a deal to buy hair-care company Vogue International for about $3.3 billion in cash, in order to expand its consumer division.
The deal is J&J's biggest since it acquired Swiss medical device maker Synthes Holding AG in 2012 for $ $21.3 billion including debt.
This is J&J's biggest acquisition in its 128 year history.
The Vogue International acquisition will give J&J OGX collection of shampoos, conditioners, treatments, styling products, body care and bath products, the FX line of hair styling products, and the Proganix and Maui Moisture hair care lines sold in the US and in 38 countries.
Vogue International is one of America's leading manufacturers and distributors of salon hair care and other personal care products.
The privately held company is 49-per cent owned by private equity firm Carlyle Group LP, which had acquired the stake in 2014.
Founded in 1987 by Todd Christopher, who along with wife, started selling hair treatment capsules under the Pro-Vitamin brand from their car.
The Florida-based company has grown to become one of the largest privately owned hair care and beauty companies in the US, with its OGX brand consistently ranking as one of the top 10-premium hair care brands.
The company distributes its products to the world's largest retailers, primarily through the food, drug, and mass channels of distribution.
''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," said Jorge Mesquita, worldwide chairman, consumer at J&J.