P&G (PG) Buys Walker & Company, Enhances Beauty Portfolio
Zacks Investment Research | Dec 12, 2018 08:57PM ET
Procter & Gamble Company (NYSE:PG) , commonly known as P&G, has taken aboard a startup company — Walker & Company Brands — which deals in providing health and beauty solutions. Founded in 2013, Walker & Company brings with it customized products and services, which includes Bevel — a grooming line for men with coarse and curly hair, and Form — a hair care line for women with textured hair. Details about the transaction value remained under covers.
As a merged entity, Walker & Company will operate as a separate and wholly-owned subsidiary of P&G, under the able leadership of its CEO and founder, Tristan Walker. The company will move its headquarters from Palo Alto to Atlanta with Walker and his 15 employees.
This buyout is likely to be mutually beneficial. P&G, in particular, will benefit from Walker & Company’s profound consumer understanding, authentic bond with customers and its exclusive and tailored products. Meanwhile, Walker & Company is likely to gain from P&G’s global scale, skilled workforce, resources and technical soundness.
With this merger, the companies plan to bolster P&G’s multicultural business and speed up growth of Walker & Company’s existing brands. Further, as a combined company, they plan to develop additional products intended to meet the precise requirements of people.
P&G's shares did not react much to the news. However, this Zacks Rank #3 (Hold) stock gained 12.4% in the last three months, outperforming the Zacks Investment Research
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