There is a little meme going around that says something to the effect of “Wonder what you all gonna say when you find out Shea Moisture is now owned by Mitt Romney?”
When I first saw the meme it did raise an eyebrow because what in the world would one of the most disliked politicians have to do with my shampoo and conditioner.
Well it wasn’t long until I figured out that Shea Moisture had entered into a partnership with Bain Capital who is now a minority owner and a non controlling investor of Sundial Brands.
Sundial brands has under it both Shea Moisture and Nubian Heritage. Most of us love Shea Moisture and like the Carols Daughter partnership many of the women were hurt and concerned because here we have another black owned family business ‘selling out’ to white venture capitalists.
Well before you start throwing out all your good conditioner here are the facts:
Richielou Dennis still remains as the CEO and all of his family members still hold top positions in the company. Mitt Romney left Bain Capital in 2009 so he has nothing to do with the merger at all.
Finally Shea Moisture is super upfront about the deal releasing a rather long statement but giving many of us the assurance that there was no selling out.