Procter & Gamble (PG) Acquires Health and Beauty Startup Walker & Company

Walker & Co, a startup focused on making health and beauty products for the African American market, on Wednesday announced it has been acquired by consumer giant Procter & Gamble.

Founded by Tristan Walker around five years ago, Walker & Co. will function as a wholly-owned subsidiary of the American consumer goods multi-national corporation, with Walker continuing to serve as CEO. Walker & Company will also move its headquarters from the heart of Silicon Valley in Palo Alto to Atlanta along with the entire 15-member team.

With venture capital investments in Walker and Company estimated to be around $40 million, analysts assume that PG must have paid somewhere between $20 million and $40 million for the startup. With the acquisition, Walker gets access to P&G’s state-of-the-art R&D facilities and expertise, along with its global retail relationships, strong marketing suppor,t and supply chain efficiencies.

For P&G, the acquisition gives them access to the cachet of an emerging player focused on serving the country’s growing multicultural customer base through health and beauty products.