Business Services Industry
Soft Sheen sale near. (Soft Sheen Products Inc.)
Crain's Chicago Business, April, 1998 by Rewick, C.J.
L'Oreal buy would end African-American control; Johnson Products also on block Three years after Soft Sheen Products Inc. began a quest for a buyer, it's finally found one. Industry sources say a deal is near with French-owned cosmetics giant L'Oreal SA. It is unclear whether L'Oreal is buying the Chicago-based maker of ethnic beauty products outright or becoming an equity partner.
An outright sale is considered the most likely scenario, with industry insiders pegging the price at $80 million to $100 million. Soft Sheen, the nation's largest African-American-owned beauty products company, is the maker of Optimum Care, the No. 1 hair relaxer, as well as several other brands that consistently rank in the top 10 sales rosters of food, drug and retail stores. Its...
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