Henkel has signed an agreement to acquire Zotos International Inc., the North American Hair Professional business of Shiseido Company Ltd., for $485 million. The acquisition includes such brands as Joico and Zotos Professional.
In fiscal 2016, Zotos International reported sales of about $230 million and employed around 700 people. Based in Darien, the company is mainly focused on the U.S. market, where it operates a manufacturing site and R&D facility. It also maintains a presence in Europe and in Asia.
The transaction is Henkel’s third in the U.S. hair professional business in recent years. In 2014, the German company, whose North American headquarters recently relocated to Stamford, acquired Sexy Hair, Alterna and Kenra. Last month, Henkel successfully closed the acquisition of Nattura Laboratorios, manufacturer of Pravana.
The acquisition is subject to customary closing conditions, including regulatory approvals.