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Article: JAPAN'S KAO TO BUY U.S. HAIR CARE GOODS FIRM JOHN FRIEDA.

Article from:
AsiaPulse News
Article date:
August 2, 2002
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TOKYO, Aug 2 Asia Pulse - Kao Corp. (TSE:4452) announced Thursday that it will purchase U.S. hair care product marketer John Frieda Professional Hair Care Inc.

The company will pay US$450 million, or about 54 billion yen, for the Connecticut firm -- a record high for a purchase by Kao.

With the acquisition, Kao aims to boost its brand strength and secure a foothold in the world market for competition with manufacturers such as Procter & Gamble Co.

John Frieda's sales in fiscal 2002 are expected to reach about US$160 ...

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