HairCare News & Analysis
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Johnson Products Co. Founder George E. Johnson Sr. Dies at 99
George E. Johnson Sr., the founder of Johnson Products Company, passed away at the age of 99. His contributions to the hair care industry are widely recognized, marking significant advancements for Black-owned businesses. While the article provides tributes and personal anecdotes, no specific financial data or metrics related to Johnson Products Company or its current market position are mentioned. This event highlights the impact of historical figures on the industry, influencing future market dynamics for businesses that value diversity and inclusion.
Read More: Johnson Products Co. Founder George E. Johnson Sr. Dies at 99
Johnson Products Company Founder George E. Johnson Dies at 99
George E. Johnson, founder of Johnson Products Company, passed away at age 99 from natural causes, according to reports. The company, established in 1954, achieved nearly 80% market share in Black hair care by 1960 and was the first Black-owned company listed on the American Stock Exchange in 1971. Johnson started with a $250 loan and grew his business alongside the Black Pride and Black Power movements. His death marks the loss of a significant figure in the hair care market, which remains influential today, especially for Black consumers.
Read More: Johnson Products Company Founder George E. Johnson Dies at 99
Henkel to Acquire Olaplex for $1.4 Billion at $2.06 Per Share
German company Henkel has announced its agreement to acquire Olaplex for $1.4 billion, equating to an offer price of $2.06 per share, which represents a premium of over 50% from Olaplex's closing stock price of approximately $1.30 per share prior to the announcement. The acquisition was unanimously approved by Olaplex's board of directors and is seen as part of Henkel's strategy to expand its presence in the premium hair care market. Olaplex's stock had previously dropped nearly 95% since its IPO in 2021, when it opened at $25 per share. The deal was announced alongside a statement from Olaplex indicating the potential for future growth and innovation.
Read More: Henkel to Acquire Olaplex for $1.4 Billion at $2.06 Per Share