$3.3bn deal expands Johnson & Johnson’s consumer products segment
Healthcare conglomerate Johnson & Johnson (J&J) has agreed to buy US-based consumer haircare specialist Vogue International for $3.3 billion (£2.3 billion). The deal includes Vogue’s various ranges of shampoos, conditioners and styling products.
J&J is in the process of a large restructuring effort, with plans to cut 3000 jobs from its medical devices division. Acquiring Vogue indicates that J&J sees growth opportunities in consumer healthcare, an idea reinforced by the fact that its consumer medical devices, vision and diabetes businesses are unaffected by the restructuring plan.