Planning to Reinvigorate the Leadership Heritage of the Brand
Phoenix, Arizona (July 6, 2006) – Najafi Companies announced today that it has completed the acquisition of the Pert Plus® hair care product brand from The Procter & Gamble Company (NYSE:PG). This is specifically for North America – United States, Canada, Puerto Rico and several Caribbean countries. Procter & Gamble will retain the brand in all other regions/ countries in which Pert Plus® currently exists.
Pert Plus® will be part of Innovative Brands, LLC, a company created by Najafi Companies to acquire, reposition and grow solid consumer brands that no longer fit the strategic direction of larger corporations into long-term sustainable assets. The Phoenix-based company’s management team includes Joe Jacober and Carlton Hawkins, seasoned marketers who together bring more than 40 years of experience in brand management and innovation.
“Our plan is to invest in Pert Plus®, and to grow and sustain the brand for the long term,” says Jerry Pence, a partner at Najafi Companies. “There are tremendous opportunities for growth and product expansion here.”
First introduced to the US market in the 1980s, Pert Plus® has a strong heritage and continues to have a loyal following.
“We will generate renewed interest for what is a solid and familiar consumer brand, “ says Joe Jacober, chief executive officer of Innovative Brands, LLC. “The convenience and product performance of Pert Plus® appeals to all family usage, a factor that bodes well in a market where men and women are paying increasing attention to personal grooming.”
The personal care segments present opportunities for growth and product development for players who understand consumption patterns, emerging needs, growing niche markets and consumer attitudes, according to Datamonitor. Datamonitor expects European and US consumers to spend $102 billion in 2009 on personal care products compared to $86 billion in 2004.
For more information about the Pert Plus® brand visitwww.pertplus.com.
About Najafi Companies
Najafi Companies is a private investment firm based in Phoenix, Arizona. The firm makes highly-selective investments up to $2 billion in size in companies with strong management teams across a variety of industries, and often in industries out of popular favor. The firm takes a long-term view on its investments and focuses its efforts to create value through growth and superior performance. Najafi Companies funds investments with its principals’ capital, not through a fund. Free from the restrictions of a fund, the firm is able to move quickly and decisively when investing, and with no requirements to return capital to outside partners, Najafi Companies is able to make investments that create maximum value for the long term. For more information about Najafi Companies, visit www.najafi.com.
The Lavidge Company
Tel# 480-998-2600 ext. 537
The Lavidge Company
Tel# 480.998.2600 ext. 533