DUESSELDORF (dpa-AFX) - Henkel AG (HENOY.PK) announced that it has signed an agreement to acquire Zotos International Inc., the North American Hair Professional business of Japan cosmetics company Shiseido Company, Limited., for $485 million.
In fiscal 2016, Zotos reported sales of about $230 million and employed around 700 people. This acquisition comprises hair professional brands such as Joico and Zotos Professional.
This transaction is expected to close in December 2017, subject to the satisfaction of customary closing conditions.
Henkel's Chief Executive Officer Hans Van Bylen, stated, '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.'
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