Reportedly, Tristan Walker, the CEO of Walker & Company would continue to serve as CEO.
Walker & Company Brands, a startup making health and beauty products for people of color, have recently announced to join consumer giant Procter & Gamble. The financial details of the deal are not disclosed.
Founded in 2013 by Tristan Walker, Walker & Company started out with Bevel shaving products for men and later on came up with a collection of hair products for women.
According to P&G, the acquisition will help it “better serve consumers of color around the world.” Reportedly, Walker & Co. will operate as a wholly-owned subsidiary of the larger organization, with Walker continuing to serve as the CEO, and the entire 15-person team moving to Atlanta.
Walker’s people of color approach to meet P&G
In an announcement, Walker stated, “When I started Walker & Company Brands, I set out to build a company that would meet the health and beauty needs of people of color on a global scale.” He added, “Having access to P&G’s outstanding technology, capabilities and expertise helps us to further realize that vision, giving us the power to scale and bring new products to people of color, while staying true to our mission and continuing to nurture the loyal community we’ve worked hard to build.”
The deal would help P&G tap a different market segment
Alex Keith, CEO, P&G Beauty, said, “We have tremendous respect for the work Tristan Walker has accomplished and we are excited to welcome Walker & Company to the P&G family.” Moreover, “The combination of Walker & Company’s deep consumer understanding, authentic connection to its community and unique, highly customized products and P&G’s highly-skilled and experienced people, resources, technical capabilities, and global scale will allow us to further improve the lives of the world’s multicultural consumers.”
The merger will grow P&G’s multicultural business and accelerate growth for Walker & Company’s existing brands, as well as fuel the development of additional products designed for the specific needs of people of color.
In November 2018, P&G successfully completed its acquisition of the Consumer Health business of Merck KGaA, Darmstadt, Germany. The move was in order to improve P&G’s OTC geographic scale, brand portfolio and category footprint in the vast majority of the world’s top 15 OTC markets.