Wednesday, 31 October 2007 19:33
A High Country favorite, North Carolina-based company
Burt’s Bees is being sold to household goods giant Clorox for $925 million.
Clorox, manufacturer of its namesake bleach as well as Brita water filters,
made the announcement yesterday. Burt’s Bees has a line of over 150 natural
beauty products, sold at local stores like Mast General Store and Earth Fare.
Burt’s Bees officials hope the partnership will help the company expand
internationally. Burt’s Bees plans to remain semi-independent form Clorox. The
Mooresville-based company will sell about $170 million worth of its products in
2007. The all-cash deal seems a bit much to some, including Bank of America
Securities analyst April Scee who, according to the Associated Press, wrote in
a note to investors that, while Burt’s Bees is a “great brand,” Clorox might