Johnson & Johnson (China) Investment Co Ltd bought Beijing Dabao Cosmetics Co Ltd on July 30.  The subsidiary of the US-based consumer goods giant Johnson & Johnson acquired Dabao from Beijing Sanlu Factory and Beijing Dabao Cosmetics Co Ltd Staff Shareholding Committee. The US firm did not disclose the financial terms for the completed acquisition.

A source from Dabao said, the company has received the approval from the Ministry of Commerce and is working accordingly.  No terms of buyout value and placement of employees are announced.

Dabao has been sluggish in profits and product innovation, which prompts the sale.

(China IP News)