Procter & Gamble has announced the acquisition of Walker & Co, a move that will better position itself to target African-American consumers.
While undisclosed, the acquisition purchase price is reported to be between $20-$40 million, with Walker & Co – creators of men of color grooming line Bevel and a hair care line aimed at women of color – giving P&G a better placement to target this consumer group.
Founded by Tristan Walker in 2013, the company will relocate its headquarters from Silicon Valley to Atlanta in order to cut cost and be more centralised to its largest consumer base.
The news follows a recent interview by Walker for Vox, who suggested Walker consumers were unable to use Gilette products. He stated, “None of our consumers can use [Gillette] products.”
He followed up by talking about the company’s future, stating, “We are well-positioned. I can’t really speak toward how excited or fearful Gillette is about the future, but I can’t personally use their products, nor can our customers.”