Henkel signed an agreement to acquire the Vidal Sassoon brand and the related hair care business in Greater China from Procter & Gamble.
Vidal Sassoon is a well-established hair care brand, with a salon-inspired image in the retail market. The addition of this brand complements the local portfolio of Henkel Consumer Brands in China by covering a white spot in the premium retail segment. The Vidal Sassoon portfolio focuses on the premium hair care segment with shampoos and conditioners, but also offers products around styling and treatments. The business holds a strong position in the Chinese market and generated sales of more than 200 million euros in fiscal year 2022/2023.
“As part of our strategic growth agenda, we are pursuing targeted acquisitions to actively shape and strengthen our portfolio. 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,” said Henkel CEO Carsten Knobel.
“We are excited about the opportunity to add this strong brand to our portfolio. It perfectly fits our strategic focus of expanding our competence in hair beyond our existing brands in the Professional and Retail space. With this acquisition, we are able to offer a complete portfolio of hair innovations to consumers in China – across Schwarzkopf, Schwarzkopf Professional, Shiseido Professional, as well as Vidal Sassoon,” said Wolfgang König, Executive Vice President Henkel Consumer Brands.
The acquisition is subject to customary closing conditions, including regulatory approvals.