Cleary Gottlieb is representing long-time client Henkel in connection with its proposed acquisition of Zotos International Inc., the North American hair professional business of Shiseido Company, Limited, for $485 million in cash.
The deal was announced on October 26, 2017, and is subject to regulatory approvals and other customary closing conditions.
Henkel, headquartered in Düsseldorf, Germany, is a worldwide consumer and industrial products company with leading brands and technologies in three business units: laundry and home care, beauty care, and adhesive technologies. Henkel’s well-known brands include Persil®, Purex®, Schwarzkopf®, Dial®, Right Guard® and Loctite®. Cleary has previously advised Henkel on more than 20 successful transactions over several decades, including the acquisition of U.S.-based hair professional businesses Sexy Hair, Alterna and Kenra in 2014.
Zotos is based in Darien, Connecticut, and manufactures leading hair professional brands, including Joico and Zotos Professional.