Johnson & Johnson has announced a deal to acquire Vogue International, the owner of brands such as OGX and FX, for $3.3bn.
Privately-owned Vogue has seen its products become popular in recent years, helped in part of colourful and distinct packaging. It has been expanding its shelf space in drugstores in recent months, instead of spending on advertising.
Vogue is 49%-owned by the Carlyle Group. The deal is expected to be completed in the third quarter of the year, and will not affect J&J’s sales or profit forecasts.
The acquisition will include the OGX collection of shampoos, conditioners, treatments, styling products, body care and bath products, the FX line of hair styling products, and the Proganix and Maui Moisture hair care lines.
“Our acquisition of Vogue International’s full line of leading advanced hair care products sold in the U.S. 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 & Johnson,” said Jorge Mesquita, Worldwide Chairman, Consumer, Johnson & Johnson.