TOKYO, Japan — US healthcare conglomerate Johnson & Johnson said on Tuesday it is acquiring all outstanding shares of Japanese skincare firm Ci:z Holdings Co Ltd that it does not already own for 230 billion yen ($2.05 billion) in cash.

J&J is betting the deal, which will give it ownership of the Japanese firm's popular brands such as Dr.Ci:Labo, Labo Labo and Genomer line of skincare products, will help it strengthen its international innovation pipeline.

It will pay 5,900 yen per Ci:z share, a 55 percent premium over Tuesday's closing price, and also acquire the shares owned by the Japanese firm's founder Yoshinori Shirono, J&J said in a statement.

CIC Corp, the ownership vehicle of the founder, is the top shareholder of Ci:z with a 27.96 percent interest, according to Refinitiv data.

J&J is the second largest shareholder of the Japanese firm and owns a 19.9 percent stake through its affiliate.

J&J, which has been selling off certain businesses such as diabetes care devices to focus on better performing units and development of new products, plans to launch the tender offer on Oct. 29.

By Makiko Yamazaki and Chris Gallagher; editors: Miyoung Kim and Muralikumar Anantharaman.