US healthcare conglomerate Johnson & Johnson (J&J) completed its previously announced JPY230 billion ($2.1 billion) acquisition of Japanese cosmetics company Ci:z Holdings.

Headquartered in Tokyo, Ci:z Holdings is engaged in manufacturing a variety of dermocosmetic, cosmetic and skincare products.

Through its acquisition, Johnson & Johnson will own the popular brands of the Japanese cosmetics company that include Dr.Ci: Labo, Labo Labo, and Genomer. As a result, the healthcare giant will be expanding its consumer portfolio of science-based dermo-cosmetic beauty products.

The skincare portfolio of Ci:z is expected to bolster the market presence of Johnson & Johnson in Japan.

Johnson & Johnson announced the acquisition of Ci:z in October 2018. The acquisition was wrapped up via several transactions that included all-cash tender offer to acquire the publicly held shares of Japanese cosmetics company for JPY5,900 ($3,836.7) per share.

Commenting on J&J acquisition of Ci:z, Jorge Mesquita – Worldwide Chairman, Johnson & Johnson Consumer, said: “The addition of DR. CI: LABO, LABO LABO and GENOMER to our franchise strengthens our growing beauty portfolio with unique dermocosmetic innovation.

“We are very pleased to complete this important transaction and look forward to bringing efficacious, science-backed skincare products to our health and beauty consumers around the world.”

  Ci:z Holdings, Japan, Johnson & Johnson, Jorge Mesquita, USA