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J&J China may acquire Shanghai firm

By Zhang Ye (Global Times)

08:32, August 02, 2012

Johnson & Johnson (China) Investment Co will possibly acquire Shanghai Elsker For Mother & Baby Co for $100 million, 21st Century Business Herald reported Wednesday.

The acquisition has been under negotiation for several months and has good prospects, the report said.

Johnson & Johnson (China) declined to comment on the report when reached by the Global Times Wednesday. Elsker could not be reached by press time either.

Wu Zhigang, chief marketing consultant at Beautway, a Beijing-based cosmetic consulting company, holds an optimistic view toward the possible acquisition.

"In this brand-oriented industry, companies need large sum of money to enhance their brand influence to attract more customers and develop effective sales channels," Wu said.

According to 2012 CVSource Report, an online database system created by ChinaVenture Investment Consulting Group, 37 daily chemical companies have received $377 million worth of investment from venture capital and private equity funds since 2007.

Shanghai Elsker received an investment of $6.95 million from the Rothschild family, a European dynasty, in January 2010, the news report said.

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