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Article: KAO CORP. SNARES JOHN FRIEDA HAIR CARE BRAND FOR $450 MILLION.(Brief Article)
- Article from:
- WWD
- Article date:
- August 2, 2002
- Author:
CopyrightCOPYRIGHT 2002 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Another independent brand is being snapped up -- Kao plans to buy John Frieda Professional Hair Care for $450 million.
The deal was signed off Wednesday night here through the Japanese company's wholly owned U.S. subsidiary, The Andrew Jergens Co. The acquisition is expected to be complete in early September, pending regulatory approval. The deal does not include Frieda's six hair care salons in the U.S. and U.K., which he continues to own. Kao has been looking to become a player in the $4 billion U.S. mass hair care market for several years, as evidenced by its losing bid for Clairol to Procter & Gamble last spring. The purchase of John Frieda ...