Eva Graham founded Nioxin Research Laboratories Inc. in her garage in 1987. Since then, Graham and others have built the company into the best-known brand name for products that help improve the appearance of thinning hair, said Powell Goldstein partner Bill Shearer.
Graham cashed out on her successful venture this month, selling the company to Procter & Gamble Co. Shearer was lead corporate counsel to Nioxin on the deal. Terms weren’t disclosed, but The Wall Street Journal, citing unnamed sources, reported the sale price was about $300 million.
PoGo has handled Nioxin’s corporate work for a number of years, as well as its intellectual property work. PoGo also advised Nioxin on the IP aspects of its sale to P&G, reviewing its numerous trademarks and patents.
Nioxin, headquartered in Lithia Springs, makes scalp cleansers, conditions and other treatment products under its own brand name. Nioxin also makes other types of hair-care products like liquid sculpting gel and thickening spray. Nioxin’s products are sold in North Ame
rica in national chain hair salons like Regis, as well as in independently owned salons. Nioxin’s products are also sold in Asia, Australia, Europe and South America.
P&G plans to integrate Nioxin into its operations over a two-year period, said Shearer [see photo, left]. P&G makes some of the world’s best-known consumer brands, including Crest toothpaste, Gillette razors and Tide detergent.
Jones Day lawyers from the firm’s New York office was counsel to P&G, Shearer said. Chorey, Taylor & Feil partner John L. Taylor Jr. said he is Nioxin’s outside general counsel.
Nioxin took financial advice on its sale to P&G from Paris-based Michel Dyens & Co. Shearer said Michel Dyens is one of the best-known investment banks in the niche of selling companies that manufacture and market consumer-branded products. Michel Dyens advised Sidney Frank when his company sold its Grey Goose vodka brand to Bacardi.