Johnson & Johnson is launching a $2.05 billion offer to buy Ci:z Holdings Co. Ltd., a Japanese cosmetic and skin care company, it announced Tuesday.
New Brunswick-based J&J said in a news release it has agreed with Ci:z that it will make the all-cash tender offer for the shares it does not already own. The price is ¥5,900 per share, which equates to approximately ¥230 billion, J&J said.
“Health and beauty consumers are actively seeking science-based innovation to improve their skin,” Jorge Mesquita, worldwide chairman, Johnson & Johnson Consumer, said in a prepared statement. “This transaction will maximize value creation for Johnson & Johnson’s consumer business by bringing in an agile innovation model and rapidly accelerating sales through our global commercialization expertise.”
Ci:z markets skin care products under brands including Dr.Ci:Labo, Labo Labo and Genomer. J&J hopes a deal will strengthen its market presence in Japan, as well as more broadly growing its existing dermocosmetic brands, it said.
J&J said it expects to launch the tender offer on Oct. 29, with an expected offer closing in the first quarter of 2019.
