Henkel Buys Shiseido-Owned U.S. Hair Products Firm ZotosHenkel Buys Shiseido-Owned U.S. Hair Products Firm Zotos
October 27, 2017
Japan’s largest cosmetics firm Shiseido entered into an agreement with Henkel to shed its North American Hair Professional business for $485 million, according to a press release issued by Henkel on Friday.
“This acquisition is part of our strategy to expand our position in attractive markets and categories. It will further strengthen our Hair Professional business in the US, the world’s single biggest hair professional market. The high-performance and high-quality brands are a perfect fit for our Beauty Care business. We are looking forward to welcoming Zotos’ experienced team at Henkel,” said Henkel’s Chief Executive Officer Hans Van Bylen in a statement.
Producing brands like Zotos Professional and Joico, the Darien, CT-based firm reported sales of $230 million in 2016. Included in the transaction are its U.S. manufacturing site and a research and development facility. The company mainly serves the North American market but also has a presence in Europe and Asia.
Henkel’s release noted that this is the German company’s third acquisition of a hair professional business in the past few years. The transaction’s close is pending regulatory approvals and other conditions.
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