Henkel’s $485 Million Acquisition of Zotos


Shearman & Sterling is advising Shiseido Company Limited (Shiseido), a leading global cosmetics company, in connection with the approximately $485 million sale of its wholly-owned subsidiary Zotos International Inc. (Zotos), a global haircare company, and certain related assets to the German headquartered Henkel Corporation (Henkel). The transaction is subject to customary conditions, including the receipt of necessary regulatory approvals.

Founded in 1872 as the first Western-style pharmacy in Japan, Shiseido’s business has evolved into a worldwide premier cosmetics company with a global selection of skincare, makeup and fragrance that includes a high-performance category for special skincare and a brightening line. Shiseido offers products for professional beauty salons and hairdressers, as well as body care, suncare and a skincare line for men that are now sold in over 120 countries and regions.

Acquired by Shiseido in 1988, Zotos is a fully integrated, global haircare company that manufactures and markets a full range of hair care, texture service and hair color products including shampoos, conditioners, treatments and styling products for salons and salon professionals.

Henkel is a wholly owned subsidiary of German-listed Henkel AG & Co. KGaA (German Stock Index: DAX) that operates globally in three key business areas including: Adhesive Technologies, Beauty Care and Laundry & Home Care.

The Shearman & Sterling team is led by partner Kenneth Lebrun (Picture) (Tokyo-Mergers & Acquisitions), with support from associates Sue Kim (New York-Mergers & Acquisitions), Gordon Palmquist (Tokyo-Mergers & Acquisitions), Rena Katsuyama (Tokyo-Mergers & Acquisitions) and Rayanna Smith (New York-Corporate Group).

Other Shearman & Sterling lawyers advising on this transaction include partners Laurence Crouch (Menlo Park-Tax), John Cannon (New York-Compensation, Governance & ERISA), Jordan Altman (New York-Intellectual Property Transactions) and Jessica Delbaum (New York-Antitrust), counsels Jason Pratt (New York-Real Estate/Environmental), Robert Fagiola (New York-Real Estate) and Mehran Massih (London-Real Estate) and associates Marie-Alexis Valente (New York-Intellectual Property Transactions), Kelly Hamren-Anderson (New York-Compensation, Governance & ERISA), Stephanie Greco (New York-Antitrust), Ryan Bray (Menlo Park-Tax) and Bradley Simon (New York-Corporate Group).

Involved fees earner: Sue Kim – Shearman & Sterling; Kenneth Lebrun – Shearman & Sterling; Gordon Palmquist – Shearman & Sterling; Rena Katsuyama – Shearman & Sterling; Rayanna Smith – Shearman & Sterling; Laurence Crouch – Shearman & Sterling; Ryan Bray – Shearman & Sterling; John Cannon – Shearman & Sterling; Kelly Hamren-Anderson – Shearman & Sterling; Jordan Altman – Shearman & Sterling; Marie-Alexis Valente – Shearman & Sterling; Jessica Delbaum – Shearman & Sterling; Stephanie Greco – Shearman & Sterling; Jason Pratt – Shearman & Sterling; Robert Fagiola – Shearman & Sterling; Mehran Massih – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Shiseido;

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Author: Michael Patrini