Estée Lauder acquires hair care brand Ojon Corporation
23 Jul '07
3 min read
The Estée Lauder Companies Inc announced it has agreed to acquire the Ojon Corporation, a privately held prestige hair care company based in Canada. The closing of the acquisition, which is subject to certain conditions, including regulatory approval, is expected to occur in July 2007. Terms of the deal were not disclosed.
Ojon markets and sells products made with ingredients collected by the Tawira, an indigenous community living in the Central American rainforest. In their native language, Tawira translates to "the people of beautiful hair." Ojon, incorporated in 2003, markets its naturally-derived shampoos, conditioners, styling products and treatments through QVC, specialty retailers--including Sephora, Ulta and Nordstrom--and approximately 300 high-end salons. The Ojon products are also available in limited distribution overseas.
Ojon products are made with palm nut oil produced by the Tawira and help improve hair's strength, moisture, shine, and reduce breakage. In late 2006, Ojon also successfully launched Rare Harvest Tawaka Collection, a 3-SKU skin and hair care treatment line based on a wild-crafted blend of anti-oxidant rich cacao harvested in the Honduran rainforest.
"The acquisition of Ojon strengthens our position in hair care and further broadens our distribution. It should enable us to expand in the rapidly growing direct response television and specialty retailing channels," said Philip Shearer, Group President of The Estée Lauder Companies. "Natural and organic products are among the fastest growing areas in the beauty industry and Ojon has a compelling story that we believe should resonate with consumers globally."
marketing@alchempro.com
