Johnson & Johnson to buy Vogue International for about $3.3 billion
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Posted on:03 Jun 2016 14:54:56
03 June 2016 Current Affairs: Johnson & Johnson has acquire Vogue International for $3.3 billion, adding brands such as OGX shampoos and FX hair styling products to its consumer portfolio that includes Neutrogena and Clean & Clear.
Vogue's hair care products have gained popularity, helped by colorful packaging that makes them stand out in drugstore aisles.
The privately held company has focused on increasing its presence in drug stores and is spending more on buying shelf space than on consumer advertising.
Buyout firm Carlyle Group LP acquired a 49 percent stake in the company in 2014. Vogue's products are sold in the United States and in 38 other countries, Johnson & Johnson on 3 June 2016.
The transaction, slated to close in the third quarter, is not expected to have an impact on the company's 2016 sales or earnings forecasts.
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