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Henkel: to buy hair professional business to expand in US.

(CercleFinance.com) - Henkel has bought the North American hair professional business of Shiseido for 485 million dollars as it looks to expand its position on the world's biggest market for hair professionals.

The German consumer goods group has signed an agreement to acquire Zotos in a deal that includes brands such as Joico and Zotos Professional.

In 2016, these brands reported sales of about 230 million dollars and employed around 700 people.

The transaction is Henkel's third acquisition in the US hair professional business in recent years.

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