Johnson & Johnson acquires beauty products firm Vogue International

Johnson & Johnson (JNJ)  said Thursday that it would pay $3.3 billion in cash to acquire beauty products firm Vogue International.

Vogue sells shampoos, styling products and body care items under the the OGX brand, hair styling items under the FX line and hair care products under the Proganix and Maui Moisture brands.

J&J is purchasing Vogue from the company's founder, Todd Christopher, and private equity firm The Carlyle Group.

Clearwater, Fla.-based Vogue emphasizes "marketing, development and distribution of salon-influenced and nature inspired," J&J said in a statement.

New Brunswick, N.J.-based J&J did not provide details on its strategy for Vogue's brands.

"Vogue International's commitment to quality, innovation, and consumer preference complement our Consumer portfolio, while also presenting attractive hair care category growth opportunities for Johnson & Johnson," J&J consumer chairman Jorge Mesquita said in a statement.

The deal for Vogue will hardly dent J&J's finances. The health care, beauty and personal care products conglomerate is one of only two U.S. non-financial companies that still retain a perfect AAA credit rating. The other is Microsoft.

The acquisition is expected to close in the third quarter.

Follow Paste BN reporter Nathan Bomey on Twitter @NathanBomey.