Johnson & Johnson agrees to acquire Vogue International for $3.3bn

Johnson & Johnson Consumer has agreed to acquire Vogue International, a privately held hair and personal products company, for around $3.3bn in cash.

Johnson & Johnson intends to boost the consumer business with this purchase, reported The Wall Street Journal.

The purchase also includes brands such as the OGX collection of shampoos, conditioners, bath and body care products, styling products, and the FX line of hair styling products, and the Proganix and Maui Moisture haircare lines.

Johnson & Johnson worldwide chairman, consumer Jorge Mesquita said: "Our acquisition of Vogue International’s full line of leading advanced haircare products sold in the US and in 38 countries will strengthen our global presence in this important category.

"Vogue International’s commitment to quality, innovation, and consumer preference complement our consumer portfolio, while also presenting attractive hair care category growth opportunities for Johnson & Johnson."

Private equity firm, Carlyle Group acquired 49% stake in Vogue, which is based in Celarwater, Florida, in 2014.

This sale will enable the private equity firm to earn four times the $400m it paid to acquire the stake, reported the publication.

The privately held company provides an array of hair care products featuring natural ingredients.

The latest acquisition is likely to close in the third quarter of 2016.