Top-10 stories of 2002, the top-5 beauty stories, KAO & Frieda
Women's Wear Daily – December 2002
By Andrea M.G. Nagel
While $450 million may be a lot to spend on a $160 million hair care business, Japan-based Kao Corp. got what it paid for in its August acquisition of John Frieda Professional Hair Care.
The Frieda deal gave Kao entry into the competitive $4 billion hair care market, a position it vied for – and lost – when its bid for Clairol in spring 2001 was topped by Procter & Gamble.
Michel Dyens & Co. acted as financial advisor to John Frieda in the transaction.