The consumer healthcare division of Johnson & Johnson (JNJ) has reached an agreement to acquire Zarbee's Naturals, a manufacturer of children's cough syrups. This move may help the company to better attract health-conscious millennial parents while boosting the department's sales.
The New Jersey-based medical products giant and Zarbee's majority shareholder, private equity firm L Catterton, did not disclose the price of the deal on Monday.
Sales of Johnson & Johnson's consumer brands have been growing sluggishly. In particular, the US market increased by only 0.4% year over year in the first half of 2018.
Zarbee's was founded in 2008 by pediatric physician Zak Zarbock, who markets its healthcare products as healthier alternatives to traditional over-the-counter medicines because their products do not contain alcohol, gluten, or dyes. Johnson & Johnson's consumer brands include Tylenol, Motrin, Listerine, and Band-Aid.
Johnson & Johnson's stock price rose 0.3% to $131.95 on Monday, with a cumulative decline of 5.6% this year.
By Nishant Mohan and Jaewon Kang; Write to Nishant Mohan at nishant.mohan@wsj.com and Jaewon Kang at jaewon.kang@wsj.com
Copyright (c) 2018 Dow Jones Company. This article is copyrighted by Dow Jones, Inc., and may not be translated or reprinted without permission.
The New Jersey-based medical products giant and Zarbee's majority shareholder, private equity firm L Catterton, did not disclose the price of the deal on Monday.
Sales of Johnson & Johnson's consumer brands have been growing sluggishly. In particular, the US market increased by only 0.4% year over year in the first half of 2018.
Zarbee's was founded in 2008 by pediatric physician Zak Zarbock, who markets its healthcare products as healthier alternatives to traditional over-the-counter medicines because their products do not contain alcohol, gluten, or dyes. Johnson & Johnson's consumer brands include Tylenol, Motrin, Listerine, and Band-Aid.
Johnson & Johnson's stock price rose 0.3% to $131.95 on Monday, with a cumulative decline of 5.6% this year.
By Nishant Mohan and Jaewon Kang; Write to Nishant Mohan at nishant.mohan@wsj.com and Jaewon Kang at jaewon.kang@wsj.com
Copyright (c) 2018 Dow Jones Company. This article is copyrighted by Dow Jones, Inc., and may not be translated or reprinted without permission.