Whoa! A natural products company exists that is owned by a chemical company? I can understand Colgate-Palmolive purchasing Tom’s of Maine, but not Clorox buying Burt’s Bees. Then again, Clorox does own Hidden Valley (maker of ranch salad dressing).
Today, the coupleâ??s quirky enterprise [Burt’s Bees] is owned by the Clorox Company, a consumer products giant best known for making bleach, which bought it for $913 million in November. Clorox plans to turn Burtâ??s Bees into a mainstream American brand sold in big-box stores like Wal-Mart.
I think $913 million is likely too high a price for Burt’s Bees but I’m glad at least one of the founders was able to get that much out of it. The real story in the NY Times article is the relationship between the founders and how one was shafted by the other. The one shafted seems to prefer it that way. What a fascinating novel the story would make.