Shiseido says to sell lower-priced brands for $1.5 billion

Industry: Other    2021-02-04

Japanese cosmetics firm Shiseido Co Ltd said on Wednesday that it agreed to sell its lower-priced skincare and shampoo brands to private equity firm CVC Capital Partners for 160 billion yen ($1.52 billion).

The brands include its Tsubaki shampoo and Senka cosmetics line sold at drugstores and convenience stores.

Source: Reuters.com