The deal could range in value from $61 million to $73 million depending on share prices of the two firms prior to the closing. S.C. Johnson & Son . Dr. IVAX shares were unchanged at $25.25. Family Struggles for Control. "This is a terrific deal for IVAX," said Ronald Nordmann, an analyst who follows the company for Paine Webber. It employs 13,000 people and sales are estimated at $10.5 billion annually. In the most recent quarter, ending March 31, IVAX showed net income of $16.4 million on sales of $128 million. It became the first black-owned company listed on the American Stock Exchange. Mrs. Johnson said: "This transaction will benefit our stockholders, employees and community. Johnson netted $1.2 million on sales of $10.5 million in the quarter that ended Feb. 28. At Johnson & Johnson, we use technology and the power of collaboration to fight back against the most devastating healthcare challenges of our generation, from combating cancer with CAR-t cell therapy to teaming up with Apple to study AFib.Johnson & Johnson became a household name thanks to surgical dressings and baby products and now, 130 years later, … A Leader in Black Business, Johnson Products, to Be Sold. The Johnson Products Company, whose portfolio of grooming and cosmetic products for minority consumers has made it one of the nation's largest black-owned businesses, will be acquired in a stock swap with the IVAX Corporation, the two companies announced today. S.C. Johnson & Son is the crown jewel of the Johnson family fortune. Johnson's sales rode a roller coaster in the late 1970's and 1980's, bouncing between about $45 million and $29 million. In Johnson's last fiscal year, which ended on Aug. 31, total sales were $42 million. Johnson, based in Chicago, dominated the market for personal care products for blacks during the 1960's and 1970's with Ultra Sheen and Gentle Treatment hair care products and related lines. "It fits their strategy of trying to dominate niche businesses while growing the drug operations.". It’s been a year to forget for Johnson & Johnson (NYSE: JNJ).Two sets of legal issues have damaged the company’s image. More recently, sales have risen and the company has regained profitability. "It's been a resilient little company that taught a lot of us how to be entrepreneurs," said Lafayette Jones, president and chief executive of Segmented Marketing Services Inc., a marketing firm based in Winston-Salem, N.C. "It'll be missed," added Mr. Jones, who was the vice president of marketing and sales at Johnson from 1979 to 1981. Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. Company profile page for Johnson & Johnson including stock price, company news, press releases, executives, board members, and contact information It is almost impossible to walk into a … In Johnson's last fiscal year, which ended on Aug. 31, total sales were $42 million. IVAX, a Miami-based pharmaceutical company with chemical, skin care, medical diagnostics and veterinary businesses, has grown rapidly through acquisitions in recent years. "It is an excellent fit with Flori Roberts Inc., our cosmetics and skin care subsidiary, which also focuses parts of its business on African-American consumers, and with Baker Cummins Dermatologicals, our dermatological and skin care company, which markets an established line of medicated shampoos, conditioners, and other skin care products," said Dr. Phillip Frost, the chairman and chief executive of IVAX. Sales continued to grow under his mother, who had been treasurer during the years her ex-husband ran the company. But Johnson's stock soared about 25 percent this spring on rumors that the company might be sold. The company fell behind in product development and lost money in an effort to set up manufacturing in Nigeria. The founder, S.C. Johnson, for … George Johnson could not be reached for comment. What many investors don’t realize is that Johnson & Johnson proper doesn’t actually do anything in the sense that most people think it does. Frost, a dermatologist, said the manufacturing of some Flori Roberts products would move to Johnson's Chicago plant. But it has been rocked by feuds within the Johnson family. Johnson netted $1.2 million on sales of $10.5 million in the quarter that ended Feb. 28. Mrs. Johnson controls more than half of Johnson's shares as a result of a 1989 divorce settlement with George E. Johnson, who had run the company from its founding in 1954 until the marital split. If you’ve read my writings over the years, you know that I have a soft spot for Johnson & Johnson. Dr. Frost also said he and the Johnsons had discussed the political implications of IVAX acquiring one of the nation's leading symbols of black enterprise. The two companies said Johnson would continue to operate as an independent subsidiary and Mrs. Johnson, who is 64, would lead it with the title of president. "We will continue everything they are doing and raise the level of commitment to the black community," he said. At the time, Joan B. Johnson, the chairman and chief executive, denied the rumors and said that the company was looking for acquisitions. He became the center of controversy in 1991 when he tried to organize a $20.6 million leveraged buyout. She ousted her son, Eric, from leadership last year after he refused to share power with his sister, Joan M. Johnson. Johnson and Johnson net worth: Johnson & Johnson is an American conglomerate that has a net worth of $360 billion. Eric Johnson, who then became head of a private ice cream company here, was widely credited with setting the company back on the road to prosperity during his tenure. The Complex History of Johnson & Johnson. But Johnson's position eroded as larger companies like Revlon Inc. and Avon Products and upstarts like Soft Sheen Products Inc. attacked the market, now estimated at $1.5 billion. See the article in its original context from.