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Hair Channel News -Previous News
Shiseido's Zotos to buy US cosmetic firm -Joico.
Shiseido Co Ltd, Japan's top cosmetics maker, is acquiring unlisted Joico Laboratories Inc with the aim of strengthening its salon-use cosmetics business in the United States.
The acquisition of the entire equity in California-based Joico would be made by Shiseido's wholly-owned US subsidiary Zotos International Inc, a company spkeswoman said.
"As a result of the deal, Zotos will become the third largest company in the salon-use cosmetics market in the US," she added.
Shiseido said it expected to complete the deal by Monday. The purchase price was not disclosed.
By Reuters (28 December, 2001) TOKYO.
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