Johnson & Johnson completes Ci:z acquisition
American cosmetics giant Johnson & Johnson (J&J) has announced that it has completed its acquisition of Japanese skincare company Ci:z
J&J reached an agreement with Ci:z on 23 October 2018 to acquire the firm for ¥230bn (US$2.1bn), with its press release at the time stating that the acquisition would enable J&J to “more broadly bolster its offering in science-based, efficacious dermocosmetic brands”, adding that consumers are increasingly seeking scientifically innovative skin treatments.
In its 17 January statement, J&J confirmed ¥230bn as the purchase price in the all-cash transaction and noted that Ci:z will now join the Johnson & Johnson Family of Consumer Companies.
Ci:z’s brands include DR. CI:LABO, LABO LABO, and GENOMER.
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“The addition of DR. CI:LABO, LABO LABO and GENOMER to our franchise strengthens our growing beauty portfolio with unique dermocosmetic innovation," said Jorge Mesquita, Worldwide Chairman of Johnson & Johnson Consumer, in the firm’s press release.
"We are very pleased to complete this important transaction and look forward to bringing efficacious, science-backed skincare products to our health and beauty consumers around the world.”
J&J plans to acquire the remaining shares in Ci:z that were not included in the tender offer through share consolidation, adding that it will delist Ci:z from the Tokyo Stock Exchange during the first half of 2019.
