Shiseido Acquires Bare Escentuals in $1.7 Billion Deal
Japan's top cosmetics maker Shiseido announced today it plans to buy U.S.-based Bare Escentuals, a maker of mineral-based cosmetics, for 1.7 billion dollars.
Shiseido, Japan's largest cosmetics company, has enjoyed fast-growing profits in recent years, helped by booming demand for beauty products in China and other Asian markets.
With the takeover offer, Shiseido aims to expand its brand into mineral-based products and widen its customer base.
"This acquisition further enables Shiseido to move towards our goal of becoming a global player representing Asia with its origins in Japan," Shinzo Maeda, chief executive, Shiseido.
Bare Escentuals aims to benefit from Shiseido's distribution channels in Japan and Asia, particularly its strong foothold in China.
Shiseido, Japan's largest cosmetics company, has enjoyed fast-growing profits in recent years, helped by booming demand for beauty products in China and other Asian markets.
With the takeover offer, Shiseido aims to expand its brand into mineral-based products and widen its customer base.
"This acquisition further enables Shiseido to move towards our goal of becoming a global player representing Asia with its origins in Japan," Shinzo Maeda, chief executive, Shiseido.
Bare Escentuals aims to benefit from Shiseido's distribution channels in Japan and Asia, particularly its strong foothold in China.