Source: Yesha Callahan / The Root
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.
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