Carson/Johnson Products
This article was originally published in The Rose Sheet
Executive Summary
Acquisition of IVX Bioscience's personal care business by Carson for $85 mil. completed July 14. IVX received $35 mil. in cash at closing and a $50 mil. short-term note. With the purchase, announced June 17, Carson assumes control of Johnson Products' hair care products, Posner cosmetics and Dermablend corrective cosmetics ("The Rose Sheet" June 22, p. 1). Carson initially agreed to purchase only Johnson Products and Posner for $70 mil. but later decided also to acquire Dermablend, which the company will immediately put on the selling block. IVX is selling its remaining beauty brands, Flori Roberts, Iman and Patti LaBelle, to Chantilly, Va.-based Color Me Beautiful...