New Jersey: World leader in baby products, Johnson & Johnson on June 2nd made a huge announcement that of taking over another world leader in hair care products — Vogue International for about $3.3 billion.
The accusation will supposedly give Johnson & Johnson hold over the OGX collection of shampoos, conditioners, treatments, styling products, body care and bath products, the FX hair styling product line, the Proganix and also the Maui Moisture hair care lines.
Johnson & Johnson, the New Brunswick based company has brands like Neutrogena and Band-Aid under its hood. However, the Johnson-Vogue deal is expected to close in the third quarter of 2016.
Jorge Mesquita, Worldwide Chairman, Consumer, Johnson & Johnson, said, “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.”
Johnson & Johnson also said that the transaction isn’t expected to impact its previously announced full-year sales and earnings forecasts.For all the latest Business News, download NewsX App