Shiseido Co. has agreed to buy U.S.-based Gurwitch Products LLC from closely held Alticor Inc., adding the Laura Mercier and ReVive brands as the more than 140-year-old cosmetics giant seeks growth overseas in the luxury and anti-aging products market.
The Japanese company's American unit will lead the acquisition, which will be funded by existing cash and loan facilities, Shiseido said Friday in a statement, without disclosing terms.
The transaction is scheduled to close in the third quarter. Gurwitch posted $175 million (about ¥19 billion) in sales for fiscal 2015, and the effect of the acquisition on Shiseido's results this year is expected to be minor, according to the statement.