Johnson & Johnson (NYSE: JNJ) shares took a slight uptick on Thursday’s session following news that it will make a sizable acquisition. The company announced that it has entered into a definitive agreement to acquire Vogue, a privately held company focused on the marketing, development and distribution of salon-influenced and nature-inspired hair care and other personal care products, for roughly $3.3 billion in cash.

This acquisition will include the OGX collection of shampoos, conditioners, treatments, styling products, body care and bath products, the FX line of hair styling products and the Proganix and Maui Moisture hair care lines.

The question about this deal is the closing, which is subject to antitrust clearance and other customary closing conditions. If all goes to plan, the transaction is expected to close during the third quarter of 2016.

Johnson & Johnson’s Jorge Mesquita, Worldwide Chairman, Consumer, commented:

Our acquisition of Vogue International’s full line of leading advanced hair care products sold in the U.S. and in 38 countries will strengthen our global presence in this important category. 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.

This transaction is not expected to be accretive to the 2016 sales or earnings guidance ranges that the company previously announced in April.

Shares of Johnson & Johnson were trading up 1.1% Thursday at $114.02, with a consensus analyst price target of $117.44 and a 52-week trading range of $81.79 to $115.00.

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