THE WHAT? Shiseido has announced that it has completed the sale of its personal care business, previously announced in February this year.
THE DETAILS The part of the business operating in Japan has been transferred through absorption-type corporate splits to a newly established company, named Fine Today Shiseido, the J-beauty behemoth said and all of the outstanding shares of Fine Today Shiseido have been transferred to Oriental Beauty Holdings Company (OBH), financed by funds advised by CVC Capital Partners.
Shiseido has acquired some 35 percent of the shares of OBH parent company, KK Asian Personal Care Holding, and will operate the business after the transfer via a joint venture with CVC.
THE WHY? The move is part of Shiseido’s wider growth strategy and it is hoped that the company will be able to realize further growth and development of the personal care business.