Website review: Burts Bees is Purchased by Clorox (...
DumberThanPaint discovered this in Environment
•2 reviews since Nov 6, 2007
environment
•treehugger.com/files/2007/11/burts_bees_sell....
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DumberThanPaint discovered 10 months ago- Bur t sells out in a major way. Soon to be introduced? Burt's GM bees.
- dgirlp rated 10 months ago
- Burt sells out for $925million to CLOROX? Last week Clorox announced that they will be purchasing the privately held company for a whopping $925 million - in cash. "The Burt's Bees brand is well-anchored in sustainability and health and wellness, and we believe it will benefit from natural and `green' tailwinds," said Clorox Chief Executive Donald R. Knauss. Hmm, could this be a case of greenwashing because consumers prefer natural products these days? On the same day of the announcement, Clorox said that its first-quarter profits fell to $111 million, or 76 cents per share, from $112 million, or 73 cents per share, a year ago. Knauss continued, "It's in an economically attractive category with a margin structure that will be highly accretive to Clorox."
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