Johnson & Johnson consolidates position in China by buying rival
China Daily/Asia News Network
February 1, 2013, 3:15 pm TWN
SHANGHAI -- Johnson & Johnson (China) Investment Co. Ltd., the Chinese arm of the giant U.S. consumer goods manufacturer, whose baby care products claim half of the Chinese market, said it has completed the acquisition of a local rival to consolidate its dominance in China.
The company didn't disclose the amount it paid for Shanghai Elsker for Mother & Baby Co. Ltd. Industry sources said the acquisition would enable Johnson & Johnson to fend off potential competition that is eating into its market share.