Shiseido Intends to Acquire Bare Escentuals
Shiseido Co. Ltd., the Japan-based global cosmetics company, and Bare Escentuals Inc., mineral-based cosmetics company, announces that they have entered into a definitive agreement pursuant to which Shiseido will acquire Bare Escentuals for approximately $1.7 billion through an all-cash tender offer and second-step merger. The transaction was approved by the boards of directors of both companies by unanimous vote of those directors present and voting.
Shinzo Maeda, president & CEO of Shiseido comments, "This acquisition further enables Shiseido to move towards our goal of becoming a global player representing Asia with its origins in Japan. We have known and admired Bare Escentuals' excellent team and their achievements for a long time, and look forward to their contribution to our combined group. The operational fit and future growth prospects make this an excellent transaction for our customers, employees and shareholders."
Bare Escentuals' business will operate as a separate division of Shiseido and its brands will continue to be managed by the current leadership team who are expected to drive future development of the business with the support of Shiseido's significant resources, particularly given Shiseido's extensive R&D network around the world. The transaction is expected to strengthen both companies and provide a platform for further growth.
Shinzo Maeda, president & CEO of Shiseido comments, "This acquisition further enables Shiseido to move towards our goal of becoming a global player representing Asia with its origins in Japan. We have known and admired Bare Escentuals' excellent team and their achievements for a long time, and look forward to their contribution to our combined group. The operational fit and future growth prospects make this an excellent transaction for our customers, employees and shareholders."
Bare Escentuals' business will operate as a separate division of Shiseido and its brands will continue to be managed by the current leadership team who are expected to drive future development of the business with the support of Shiseido's significant resources, particularly given Shiseido's extensive R&D network around the world. The transaction is expected to strengthen both companies and provide a platform for further growth.