J&J acquires Chinese cosmetics
This article was originally published in The Rose Sheet
Executive Summary
Firm adds Beijing Dabao Cosmetics - whose skin-care offerings include SOD Milk Cream and SOD Protein Milk, which rely on superoxide dismutase to reduce free-radical damage - to its growing portfolio of brands sold in China. "Dabao is a successful brand in the China market, and a brand we respect," says Jesse Wu, president of Johnson & Johnson (China) Investment Co. "This transaction is an extension of our commitment to China and to the continued development of China's consumer health-care sector." J&J will develop brand with help of Dabao's "unsurpassed local market knowledge," Wu notes. J&J holdings Johnson's Baby, Neutrogena and Clean & Clear are already available to Chinese consumers. Firm is official partner of Beijing 2008 Olympic Games and Paralympic Games and has launched Johnson & Johnson Family Health Initiative in the country. All government approvals were complete at time of announcement; financial terms were not disclosed...
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