J&J to Buy Hair Care Products Maker Vogue for $3.3 Billion

The transaction, slated to close in the third quarter, is not expected to have an impact on the company's 2016 sales or earnings forecasts.

By Reuters

Bloomberg | Getty Images

This story originally appeared on Reuters

Johnson & Johnson said it would acquire Vogue International for $3.3 billion, adding brands such as OGX shampoos and FX hair styling products to its consumer portfolio that includes Neutrogena and Clean & Clear.

Vogue's hair care products have gained popularity, helped by colorful packaging that makes them stand out in drugstore aisles.

The privately held company has focused on increasing its presence in drug stores and is spending more on buying shelf space than on consumer advertising.

Buyout firm Carlyle Group LP acquired a 49 percent stake in the company in 2014.

Vogue's products are sold in the United States and in 38 other countries, Johnson & Johnson said in a statement on Thursday.

The transaction, slated to close in the third quarter, is not expected to have an impact on the company's 2016 sales or earnings forecasts.

Unilever NV, Henkel & Co. KgaA AG, L'Oréal SA and other companies had submitted first-round bids in an auction for Vogue, people familiar with the matter told Reuters in May.

(Reporting by Amrutha Penumudi in Bengaluru; Editing by Saumyadeb Chakrabarty)

Related Topics

Editor's Pick

The Dark Side of Pay Transparency — And What to Do If You Find Out You're Being Underpaid
Thinking of a Career Change? Here Are 4 Steps You Can Take to Get There.
A Founder Who Bootstrapped Her Jewelry Business With Just $1,000 Now Sees 7-Figure Revenue Because She Knew Something About Her Customers Nobody Else Did
Everything You Need to Know About Franchise Law
Business News

Amazon Is Starting to Let Customers Know What Products Are Returned Often

The e-commerce giant has begun flagging certain items that were frequently sent back.

Marketing

Turn April Fool's Day Into a Marketing Success With These Innovative Strategies

April Fools' Day provides an exceptional chance for brands to connect with audiences in a fun and memorable way. Employ these marketing tactics to interact with your customers and enhance brand recognition.

Business News

'You Didn't Even Try': Aldi UK Ripped Online For Accidental NSFW Candy Shape

The marshmallow "Bunnies and Chicks" rolled out to stores just in time for the Easter holiday.

Money & Finance

Everything You Need to Know About Filing Your Taxes 2023

Tax Day is rapidly approaching. Here's everything you need to know before April 18.