Wal-Mart’s shampoo and conditioner maker Noxis announces $1.6 billion merger
Wal-Marts is set to buy Noxi Technologies, a major manufacturer of shampoo and scalp products.
The combined company will be known as Noxix.
The deal will create the world’s largest home-care supply chain and will bring the two companies closer together as a consumer and home-improvement brand.
Noxin is best known for its popular “mauki” shampoo and body-conditioning product.
The company makes products for both men and women.
The acquisition comes as the company struggles to compete with the likes of Wal-mart and Home Depot.
The merger will allow the company to expand its market footprint and expand into more markets.
The Noxys will be headquartered in Wal-marts Seattle, Washington.
Noxi said it would focus on product development, including its natural products, in addition to manufacturing.
The companies will work together to develop products that deliver the best value, quality, and value for customers.
Nxis will create a strategic partnership to help accelerate growth and provide the best products and services for consumers.
“The combination of our companies’ complementary expertise and complementary strengths will create an unmatched supply chain that will serve the needs of our customers and customers’ families,” said Jason Miller, president and chief executive officer of Noxxi.
Wal-Mart has been a pioneer in home-based personal care products.
It is one of the world, the worlds largest consumer packaged goods retailer.
More to come.
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