国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Economy

Markets

Industries

Insights

Reports

Events

Johnson & Johnson buys out Dabao

By Yu Tianyu (China Daily)
Updated: 2008-08-01 15:13

Johnson & Johnson (China) Investment Co Ltd bought Beijing Dabao Cosmetics Co Ltd in a bid to further expand its presence in the Chinese market.

The subsidiary of the US -based consumer goods giant Johnson & Johnson acquired Dabao from Beijing Sanlu Factory and Beijing Dabao Co Ltd Staff Shareholding Committee. The deal is estimated at more than $300 million.

Johnson & Johnson won a bidding war with Avon and Unilever to acquire the company and will pay $337 million for Dabao.

"This transaction is an extension of our commitment to China, and to the continued development of China's consumer healthcare sector," said Jesse Wu, president of Johnson & Johnson (China) Investment Co Ltd.

"Dabao is a successful brand in the Chinese market. We are very pleased to add the well-known and respected Dabao brand to our growing portfolio of healthcare brands in China," he added.

However, there are concerns that international enterprises are invading China's household brands in the personal care industry. There are fears that China will lose more and more national brands in the future.

However, a source with Dabao said that the company's brand and brand-name products will remain.

Yang Zhigang from the Beauty and Cosmetics Chamber with the All-China Federation of Industry and Commerce told the Beijing News that the purchase of Dabao by Johnson & Johnson should not be regarded as a business failure, instead, it shows that China's household and personal care industry is gradually getting closer to reaching maturity and entering a capital era.

According to statistics, Dabao's sales reached 780 million yuan in 2005, accounting for 1 percent of the market share. Its sale declined to 676 million yuan in 2006.

"It is a wise decision for Dabao to get out of its current situation at a time when it still holds a renowned brand," Yang said.