Carson divesting Cutex nail care business; CEO Keith stepping down.
This article was originally published in The Rose Sheet
CUTEX PUT ON SELLING BLOCK BY CARSON in an effort to narrow the firm's "strategic focus on the worldwide ethnic personal care business," Carson announced June 4. The company has engaged the investment banking firm Merrill Lynch to assist with the planned sale of the Cutex nail polish and nail polish remover business, which the company acquired a little over a year ago ("The Rose Sheet" April 7, 1997, p. 6). The move comes amidst a number of other corporate restructuring steps designed to improve Carson's performance and profitability.
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