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J&J closes ¥230B acquisition of Ci:z Holdings to bolster skincare portfolio

Johnson & Johnson completed the ¥230 billion acquisition of Ci:z Holdings Co. Ltd., a Japanese distributor of cosmetic and skincare products.

J&J Consumer's Worldwide Chairman Jorge Mesquita said the acquisition strengthens the company's beauty portfolio by adding Ci:z brands comprising of Dr.Ci:Labo, Labo Labo and Genomer line of skincare products.

The New Brunswick, N.J.-based pharmaceutical giant had previously completed a tender offer to acquire each share of Ci:z for ¥5,900.

J&J said it plans to acquire the remaining shares of Ci:z, which were not tendered in the offer, through a share consolidation under Japanese law during the first half of the year and will delist the Japanese company from the Tokyo Stock Exchange.

The company noted that any impact of the transaction on the EPS will be included in its 2019 guidance, which will be reported in its upcoming earnings call for the fourth quarter of 2018.

As of Jan. 16, US$1 was equivalent to 108.87 Japanese yen.