J&J moves to buy Japanese cosmetic products company

October 23, 2018 GMT

NEW YORK (AP) — 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.