SHANGHAI, July 30 /PRNewswire-FirstCall/ -- Johnson & Johnson (China) Investment Co., Ltd. today announced that it has acquired Beijing Dabao Cosmetics Co., Ltd. from Beijing Sanlu Factory and the Beijing Dabao Co. Ltd. Staff Shareholding Committee. The acquisition was completed after receipt of all necessary government approvals and procedures. Financial terms of the transaction are not being disclosed.
"This transaction is an extension of our commitment to China, and to the continued development of China's consumer health care sector," said Jesse Wu, President of Johnson & Johnson (China) Investment Co., Ltd.
"Since establishing our first joint venture in China in 1985, the Johnson & Johnson Family of Companies has continuously demonstrated its commitment to improving the health and well-being of Chinese families, and to China as an important market. We are very pleased to add the well-known and respected Dabao brand to our growing portfolio of health care brands in China. We look forward to working with our new colleagues at Dabao to serve even more Chinese families with Dabao's leading Chinese products." Other Johnson & Johnson consumer skin care brands in China include JOHNSON'S BABY, NEUTROGENA and CLEAN & CLEAR.
"We are proud to be an Official Partner of the Beijing 2008 Olympic Games and Paralympic Games. We also have launched the Johnson & Johnson Family Health Initiative in China -- a comprehensive campaign featuring a number of national health education programs that will help families in China enjoy happier, healthier lives," Mr. Wu added.
Dabao personal care brands have met a wide range of needs for Chinese consumers since 1985. Its skincare line includes products well-known in Chinese households, including SOD MILK, BEAUTY DAY CREAM, and SOD PROTEIN MILK.
"Dabao is a successful brand in the China market, and a brand we respect. We plan to develop the brand further with the help of Dabao's unsurpassed local market knowledge and our experience in marketing, research and product innovation," said Mr. Wu.
About Johnson & Johnson (China) Investment Co., Ltd.
Johnson & Johnson (China) Investment Co., Ltd. is a foreign investment entity established in China by Johnson & Johnson in 1998. For more information about Johnson & Johnson and its operating units in China, please visit www.jnj.com.cn
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson (China) Investment Co., Ltd.'s expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2007. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson (China) Investment Co., Ltd. does not undertake to update any forward-looking statements as a result of new information or future events or developments.
For more information, please contact:
Johnson & Johnson (China) Ltd. Johnson & Johnson
Meddy He Jeffrey Leebaw
Tel: +86-21-6430-2010 ext. 6179 Tel: +1 (732) 524-3350
Email: mhe@concn.jnj.com Mobile: +1 (732) 642-6608
Investor Contacts:
Louise Mehrotra Stan Panasewicz
Tel: +1 (732) 524-6491 Tel: +1 (732) 524-2524
SOURCE Johnson & Johnson (China) Investment Co., Ltd.
International News / Press Release source: PR Newswire
Copyright PR Newswire. All Rights Reserved.