Lisa Price started Carol’s Daughter in her own kitchen in 1993, way before the natural-hair beauty-product business was booming. Carol’s Daughter products are a staple in many naturalistas’ beauty regimen, but over the last year, there were reports that the company was having financial issues.
In April, companies affiliated with Carol’s Daughter filed for Chapter 11 bankruptcy protection. According to documents, Carol’s Daughter reported assets and debts each in the $1 million to $10 million range. But it looks as though the company has found a way to remedy its financial troubles.
On Monday, Price posted a video on Facebook informing fans that the company has been purchased by L’Oreal USA.
“I want to thank all of you for the support and the love and for being beside me, and I want you to hold my hand as we walk into this next chapter of the Carol’s Daughter life …. It brings me pride and joy to be able to join a family like L’Oreal because I know I’ll be with the right shepherd … a company that will help to take what I’ve built and solidify it in its place in history and beauty, and I don’t have to wonder, if 20 years from now—30 years from now—will there still be a Carol’s Daughter brand,” Price stated.
She also went on to let her fans know that it’s not the end of Carol’s Daughter, but a new beginning.