J&J Affirms M&A Strategy For Consumer Biz With Vogue International Buy
This article was originally published in The Rose Sheet
Johnson & Johnson wins a reported bidding war for Vogue International, picking up the popular OGX brand and other "salon-heritage" hair-care lines with natural overtones. The move is consistent with the firm's stated intention to grow its consumer business in part through targeted M&A.
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J&J's CEO Alex Gorsky is stepping down after almost 10 years in the role and will be replaced by vice chairman of the executive committee Joaquin Duato.
Company leadership has said that Vogue International – the maker of OGX and Maui Moisture hair care that J&J acquired in 2016 – would serve as a model for innovations across other brands. Strategy appears to be paying off, contributing to gains in J&J's Consumer division, which also benefited in the second quarter from Zyrtec allergy treatment and children’s Tylenol and Motrin.
J&J's Vogue hair care brand has the “agile, fast, flexible mindset” the firm looks to emulate across its other consumer brands, says CEO Alex Gorsky says at the J.P. Morgan Healthcare Conference. However, that strategy will be a challenge for sun care, where the firm does not want to sacrifice valuable science.