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J&J moves to buy Japanese cosmetic products company

/ 07:59 PM October 23, 2018

In this July 30, 2013 photo, people walk along a corridor at the headquarters of Johnson & Johnson in New Brunswick, New Jersey. AP FILE PHOTO

NEW YORK — Johnson & Johnson is paying about $2 billion in cash for the outstanding stake of a Japanese cosmetics and skincare products company.

The New Brunswick, New Jersey, health care products company already owns about 20 percent of Ci:z Holdings Co.

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Johnson & Johnson said Tuesday that buying Ci:z gives it a stronger position by “leveraging one of the largest customer relationship management databases for direct-to-consumer skincare in Japan.” It also gives the company more distribution and expansion opportunities.

The buyout is expected to close in the first quarter of 2019. /kga

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TAGS: Business, business news, buyout, Ci:z Holdings Co., Cosmetics, health care, international news, Johnson & Johnson, New Brunswick, News, skincare, world, world news
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