Friday, 15th January 2010
In Business In Japan,
Shiseido to buy US make-up company
Japanese cosmetics firm Shiseido has announced it is to buy US make up firm Bare Escentuals today (January 15th).
According to the firm, it will acquire the brand for $1.7 billion and will buy all shares at a cost of $18.20.
Commenting on the buyout, Bare Escentuals chief executive Leslie Blodgett said: "Together with Shiseido, we look forward to bringing our mineral-based beauty products to even more women worldwide."
Based in Tokyo, Shiseido has stores in more than 70 countries, including China, Greece and Switzerland.
Shiseido produces whitening make-up products which are sold in Asia and fill a market niche of those who want their skin to appear lighter in shade.
President and chief executive offer of the firm Shinzo Maeda said that the move will allow the company to become more of a big player on the global stage and to represent the Asian continent.
On the back of the news, shares in Shiseido were up on the Japanese stock exchange.
Written by Mark Smith.
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