J&J agrees $3.3bn deal for hair and personal care company after weeks of rumours
The Carlyle Group has agreed to sell hair and personal care company Vogue International to Johnson & Johnson for $3.3bn. Vogue produces the OGX hair and personal care range, as well as hair lines Maui Moisture and Proganix.
Rumours that Unilever, Henkel and L’Oréal had bid for the company circulated last week but today Carlyle announced the agreed purchase with Johnson & Johnson. The purchase is expected to complete in the third quarter of 2016, subject to customary closing conditions.
Todd Christopher, Founder and CEO of Vogue International, commented on the sale: “This is an exciting and important new chapter in the growth and development of Vogue. Our commitment to quality and innovation will be magnified by Johnson & Johnson’s array of marketing, R&D and support resources on a global basis. Many thanks to Sandra Horbach and her team at Carlyle for being true partners as we took Vogue to new levels of innovation and market penetration and created a world-class management team.”
Sandra Horbach, Managing Director and Head of Consumer and Retail at Carlyle, added: “It has been a privilege to partner with Todd and to support his efforts to develop and launch innovative products, strengthen and grow the organisation, advance sustainability practices, and reach new customers all around the world with the OGX brand. Johnson & Johnson will be a great new home for Vogue.”
Jorge Mesquita, Worldwide Chairman of Consumer at Johnson and Johnson, said: "Our acquisition of Vogue International's full line of leading advanced hair care products sold in the US and in 38 countries will strengthen our global presence in this important category. Vogue International's commitment to quality, innovation and consumer preference complement our consumer portfolio, while also presenting attractive hair care category growth opportunities for Johnson and Johnson."