Apr 1, 2009
Procter & Gamble sells Johnson’s ethnic products
Apr 1, 2009
Leader in hair products designed for African-Americans Johnson Products has been sold by Procter & Gamble to the privately held company RCJP Acquisition, who specialize in such products.
Formed from a merger of Rustic Canyons and St Cloud Capital, RCPJ has put Eric Brown and Renee Cottrell-Brown in charge of Johnson Products. This married couple had previously held strategic posts in the cosmetics group Pro-Line International. Eric will become president director general of Johnson and his wife will take the role of vice-president, and both are charged with the mission of turning Johnson into a company with products that appeal on a multi-generational level. With $24 million in annual sales, Johnson is currently trying to make a breakthrough with a new generation of consumers.
"The acquisition of Johnson Products represents the renewal of a family of products that revolutionized the ethnic hair care industry starting in the 1950s, and a next stage of growth for a legendary company that has been an iconic figure and model of success for African-Americans," Brown said. "The new Johnson Products Company will provide us with a platform to bring product innovations and promotions to a unique multi-cultural consumer group and reintroduce the brands to a new generation. We have an outstanding, motivated team, and we are extremely excited and optimistic about the future of this new venture."
By Jonathan Fulwell (Source: Matthieu Guinebault)
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