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PHOENIX -- Najafi Cos., a private equity firm based here, said yesterday that it has completed the acquisition of the Pert Plus hair care product brand from Cincinnati-based Procter & Gamble. This is specifically for North America. P&G will retain the brand in all other regions/countries in which Pert Plus currently exists.
Pert Plus will be part of Innovative Brands, LLC, a company created by Najafi to acquire, reposition, and grow solid consumer brands that no longer fit the strategic direction of larger corporations into long-term sustainable assets. The company's management team includes Joe Jacober and Carlton Hawkins, seasoned marketers who together bring more than 40 years of experience in brand management and innovation.
"Our plan is to invest in Pert Plus, and to grow and sustain the brand for the long term," said Jerry Pence, a partner at Najafi, in a statement. "There are tremendous opportunities for growth and product expansion here."
"We will generate renewed interest for what is a solid and familiar consumer brand," said Joe Jacober, c.e.o. of Innovative Brands. "The convenience and product performance of Pert Plus appeals to all family usage, a factor that bodes well in a market where men and women are paying increasing attention to personal grooming."
Pert Plus was first introduced to the U.S. market in the 1980s.