J&J makes $2.1B offer to buy out Japanese cosmetics firm

By MarketsFOXBusiness

REUTERS/Mike Blake

Johnson and Johnson wants to own the rest of a Japanese cosmetic firm that it doesn’t already own.

Continue Reading Below

The healthcare conglomerate is offering 2.1 billion dollars for  Ci:z Holdings.

The bid of 5,900 yen per share is a 55 percent premium.

The Company's skincare portfolio is expected to strengthen Johnson & Johnson's market presence in Japan with key customers, and more broadly bolster its offering in science-based, efficacious dermocosmetic brands.

"Health and beauty consumers are actively seeking science-based innovation to improve their skin," said Jorge Mesquita, Worldwide Chairman, Johnson & Johnson Consumer. "This transaction will maximise value creation for Johnson & Johnson's Consumer business by bringing in an agile innovation model and rapidly accelerating sales through our global commercialization expertise."

More Business News

J&J is currently the second largest shareholder in the company, owning almost 20 percent through its affiliate.