A Japanese cosmetics conglomerate plans to buy Chicago-based skin care product company H2O Plus for an undisclosed amount.

Pola Orbis Holdings Inc. announced it has reached a definitive agreement to acquire H20, which includes as investors New York private equity firms Cordova, Smart & Williams and New MainStream Capital as well as investors from its Chicago management team that includes H2O chief executive officer Bob Seidl.

The acquisition of H2O, which had more than $100 million in sales last year, will help Pola Orbis “accelerate its growth in global markets and achieve by 2020 consolidated sales of $3 billion.” Pola Orbis had $2 billion in sales last year, the company said. The deal is expected to close in July, the companies said in a joint announcement.

“Our new partnership with Pola Orbis will accelerate the growth of the H2O Plus brand in the world’s largest and fastest growing skin care markets,” Seidl said in a statement.

H20 Plus develops, manufacturers and sells water-based skin care products for the face and body in more than 20 countries.

“H2O Plus has a sharp brand identity and adds a distinct uniqueness to the Pola Orbis portfolio of seven brands,” Pola Orbis President and Chief Executive Satoshi Suzuki said in a statement. “Pola Orbis will build a shared relationship with H2O Plus through communication, and we are confident in H2O Plus’ further growth through an integration of Pola Orbis’ expertise in R&D, marketing, and management.”