Johnson & Johnson to buy OGX shampoo maker for $3.3B
NEW BRUNSWICK, N.J. -- Johnson & Johnson is looking to strengthen its position in hair care by agreeing to acquire Vogue International, a privately held personal care products company, for approximately $3.3 billion in cash.
J&J said the acquisition will include the 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.
"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," said Jorge Mesquita, Worldwide Chairman, Consumer, Johnson & Johnson.
The transaction is subject to antitrust clearance and other customary closing conditions. The transaction is expected to close during the third quarter of 2016. Upon closing, the transaction is not expected to impact the 2016 sales or earnings guidance ranges that Johnson & Johnson announced on April 19, the company said.
Unilever, Henkel and L'Oreal had reportedly submitted first round bids for Vogue in the past few months, according to Reuters. Vogue International was founded in 1987 in Clearwater, Fla.