Summary
Johnson & Johnson (J&J) announced on October 23, 2018, its agreement to acquire Ci:z Holdings Co., Ltd., a Japanese dermocosmetic and skincare company, through an all-cash tender offer. This strategic move aims to bolster J&J's consumer health portfolio by integrating Ci:z Holdings' popular brands, including Dr.Ci:Labo, Labo Labo, and Genomer. The acquisition represents a significant expansion into the Japanese skincare market, building upon an existing distribution collaboration initiated in 2016. The total transaction value is approximately $2 billion, with the tender offer expected to commence on October 29, 2018, and close in the first quarter of 2019. The deal is subject to customary closing conditions, including J&J acquiring at least two-thirds of Ci:z Holdings' shares.
Key Highlights
- 1J&J to acquire Japanese dermocosmetic company Ci:z Holdings for approximately $2 billion in an all-cash tender offer.
- 2Acquisition includes popular skincare brands such as Dr.Ci:Labo, Labo Labo, and Genomer.
- 3The deal is expected to strengthen J&J's position in the global skincare market.
- 4Tender offer to commence on October 29, 2018, with an expected closing in Q1 2019.
- 5Transaction builds on an existing strategic collaboration and partial ownership established in 2016.
- 6Deal is conditioned upon J&J acquiring at least two-thirds of Ci:z Holdings' outstanding shares.
- 7Completion of the acquisition is expected in the first half of 2019, including a squeeze-out procedure.