Henkel to acquire business of Shiseido
OREANDA-NEWS. October 27, 2017. Henkel signed an agreement to acquire Zotos International Inc., the North American Hair Professional business of Shiseido Company, Limited for 485 million US dollars. The acquisition comprises leading hair professional brands such as Joico and Zotos Professional.
In fiscal 2016, Zotos International Inc. reported sales of about 230 million US dollars and employed around 700 people. Based in Darien, Connecticut, the company is mainly focused on the US market, where it operates a manufacturing site as well as a R&D facility. The business is also present in Europe and Asia.
“This acquisition is part of our strategy to expand our position in attractive markets and categories. It will further strengthen our Hair Professional business in the US, the world’s single biggest hair professional market. The high-performance and high-quality brands are a perfect fit for our Beauty Care business. We are looking forward to welcoming Zotos’ experienced team at Henkel,” said Henkel’s Chief Executive Officer Hans Van Bylen.
The transaction is Henkel’s third acquisition in the US hair professional business in recent years. In 2014, Henkel acquired the three US companies Sexy Hair, Alterna and Kenra. Last month, Henkel successfully closed the acquisition of Nattura Laboratorios with its strong US hair professional brand Pravana.
The acquisition is subject to customary closing conditions, including regulatory approvals.