Shearman & Sterling is advising Shiseido Company Limited (Shiseido), a leading global cosmetics company, in connection with the approximately $485 million sale of its wholly-owned subsidiary Zotos International Inc. (Zotos), a global haircare company, and certain related assets to the German headquartered Henkel Corporation (Henkel). The transaction is subject to customary conditions, including the receipt of necessary regulatory approvals.

Founded in 1872 as the first Western-style pharmacy in Japan, Shiseido’s business has evolved into a worldwide premier cosmetics company with a global selection of skincare, makeup and fragrance that includes a high-performance category for special skincare, and a brightening line. Shiseido offers products for professional beauty salons and hairdressers, as well as body care, suncare and a skincare line for men that are now sold in over 120 countries and regions.  

Acquired by Shiseido in 1988, Zotos is a fully integrated, global haircare company that manufactures and markets a full range of hair care, texture service and hair color products including shampoos, conditioners, treatments and styling products for salons and salon professionals.

Henkel is a wholly owned subsidiary of German-listed Henkel AG & Co. KGaA (German Stock Index: DAX) that operates globally in these three key business areas including: Adhesive Technologies, Beauty Care and Laundry & Home Care.

The Team