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.
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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