Henkel is acquiring Vidal Sassoon in Greater China from Procter & Gamble (P&G) to strengthen its luxury hair care business in the country.
The German consumer goods company has signed an agreement to purchase the Chinese operation of the Vidal Sassoon brand and its related hair care business.
Henkel said the acquisition will complement its local portfolio of Consumer Brands in China by “covering a white spot” in its premium retail segment.
“With this acquisition, we are able to offer a complete portfolio of hair innovations to consumers in China,” said Wolfgang König, Executive VP of Henkel Consumer Brands.
“Across Schwarzkopf, Schwarzkopf Professional [and] Shiseido Professional, as well as Vidal Sassoon.”
Vidal Sassoon generated sales of more than €200m in China in 2023.
The acquisition is subject to closing conditions, including regulatory approvals.
Henkel CEO Carsten Knobel said the move is part of the company’s wider strategic plans for growth in the Chinese market.
“We are pursuing targeted acquisitions to actively shape and strengthen our portfolio,” said Knobel.
“The transaction will be a step-change for our Consumer Brands business in China.
“Providing the opportunity to further scale our business in one of our core categories in this attractive, growing market.”
Vidal Sassoon was founded by the late British hairdresser Vidal Sassoon, who gained recognition in the 1960s for styling the hair of the stars.
The hair care brand was acquired by P&G in the 1980s.
Henkel is not the only company that has made a beauty acquisition in the past month.
Investment group Bridgepoint has bought RoC Skincare for an undisclosed sum.
Spanish beauty conglomerate Puig has acquired a majority stake in German skin care brand Dr. Barbara Sturm.
L’Oréal has also invested in Swiss longevity skin care brand Timeline.
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