Today it was announced that Clorox will purchase Burt’s Bees for $925million. I have a huge emotional stake in that company, so I was profoundly troubled/sad/happy/confused.
I joined Burt’s in November 2003 when they had just been purchased for $185million by a private equity group. Roxanne Quimby (one of the two founders…Burt being the other) retained 20% of her stake in the company, and therefore some creative control. The changes that ensued were dramatic and amazing to be a part of.
When I left in 2006, we had increased our sales and distribution, and there were naturally rumors of us being purchased by L’Oreal or Revlon or some other cosmetic-focused company. The new CEO (John Replogle) came from Unilever, as did many high-ranking execs. Burt’s’ operations were trending toward Big Business, so I am not surprised that the Clorox sale happened.
I joined Burt’s in November 2003 when they had just been purchased for $185million by a private equity group. Roxanne Quimby (one of the two founders…Burt being the other) retained 20% of her stake in the company, and therefore some creative control. The changes that ensued were dramatic and amazing to be a part of.
When I left in 2006, we had increased our sales and distribution, and there were naturally rumors of us being purchased by L’Oreal or Revlon or some other cosmetic-focused company. The new CEO (John Replogle) came from Unilever, as did many high-ranking execs. Burt’s’ operations were trending toward Big Business, so I am not surprised that the Clorox sale happened.
Replogle is a really good guy. I trust him at the helm of “my” company. And all I have to say is: please, please, please John - take care of that precious place. Burt’s has revolutionized what we think about beauty products and the environment. Please take care of it. Please.
Thanks.
Here is my homeboy Ted (Director of Information Services at Burt's) and THE MAN himself.
2 comments:
I know I don't go any where without my Burt's Bees chap stick! I have some in my work bag, riding bag, travel bag, jacket pocket night stand, car and keyboard at work. I can't live without that stuff.
That deal seemed like such an oxymoron that I gave it somewhat prominent play today in the Pilot's biz section. It's an odd match-up, but the transition you describe from founders to private equity to buyout by large consumer products company shows exactly how grassroots products, ideas and movements get absorbed by the mainstream.
And you're welcome for my comments on your earlier somewhat more controversial post. Just didn't get why everybody got so worked up. Besides what's a fellow Hoo to do?
Hope you come to the Beach on the 18th for cross on the trash pile.
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