Japan's KAO to pay $450m for John Frieda
The Financial Times – August 2002
By Mariko Sanchanta
Kao, Japan's leading maker of household cleaning products and toiletries, has agreed to acquire John Frieda Professional Hair Care, the U.S.-based hair products company, for $450 million.
The company said it would purchase John Frieda via its U.S.-based subsidiary, the Andrew Jergens Company. It is buying John Frieda's trademarks for $340 m, and said the company's other assets and stock would be acquired by Andrew Jergens. The deal is expected to close in September, pending regulatory approval.
Michel Dyens & Co. acted as financial advisor to John Frieda in the transaction.