Johnson & Johnson To Buy Vogue Hair Care For $3.3 Billion
Johnson & Johnson has agreed to buy Vogue International, a closely held hair-care company, for about $3.3 billion in cash.
The acquisition will include OGX shampoos, conditioners and styling products, as well as the FX line of styling products and the Proganix and Maui Moisture brands, New Brunswick, New Jersey-based J&J said Thursday in a statement. Vogue’s products are sold in the U.S. and more than three dozen countries, J&J said.
The transaction is expected to close during the third quarter of 2016. The deal isn’t expected to affect 2016 sales or earnings guidance, J&J said.
Consumer products such as body and hair care made up about 19 percent of J&J’s total sales last year, according to data compiled by Bloomberg. Pharmaceuticals accounted for about 45 percent of revenue, while the rest came from medical devices and diagnostics.
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