October 27, 2017

Henkel bids $485M for Darien haircare lines

German consumer-products giant Henkel, with North American headquarters in Rocky Hill, has agreed to acquire a Connecticut maker of haircare brands Joico and Zotos Professional for $485 million.

Henkel said it is buying Zotos International, of Darien, the North American haircare unit of Shiseido Co., a publicly-traded Japanese cosmetics company.

According to Henkel, Zotos has annual sales of approximately $230 million and employs about 700 people.

"This acquisition is part of our strategy to expand our position in attractive markets and categories," said Henkel CEO Hans Van Bylen.

Henkel recently relocated its consumer-goods base to Stamford from Arizona. The state of Connecticut dangled a $20 million loan and tax credits under its "First Five Plus" program to lure the business unit from Arizona.

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