Japanese cosmetics giant, Pola Orbis, has reached a definitive agreement to acquire H2O Plus, a Chicago-headquartered developer, manufacturer, and marketer of prestige, branded, marine-based natural skincare products for the face and body.
H2O Plus has more than 2,000 prestige retail points of distribution in 22 countries, including deep penetration in North America, Asia and an expanding presence in Europe and Latin America. Through this acquisition, Pola Orbis aims to strengthen its growth in global markets with the aim to reach an overseas sales percentage of 20% by 2020. Consolidation of their international businesses is a general trend among Japanese cosmetics leaders that have to cope with an ageing and declining population on the home market.
"H2O Plus has a sharp brand identity and adds a distinct uniqueness to the Pola Orbis portfolio of seven brands. Pola Orbis targets to increase its presence in global markets in the mid-term management plan, and we believe a partnership with H2O Plus will be mutually beneficial," said Satoshi Suzuki, President and Chief Executive Officer of Pola Orbis.
Pola Orbis also expects to generate new synergies in research and development and in marketing while capitalizing on H2O Plus’ appealing brand concept and retail distribution channels.
The transaction, which amount has not been disclosed, is subject to customary regulatory approvals, and is expected to close in July 2011.
