Johnson & Johnson takes on natural brand for US distribution
Premium Greek skin care brand Korres will be taken on by Johnson and Johnson (J&J) for distribution in North America.
The US consumer goods giant will pay $7.25m initially which Korres will use to manage its own distribution in the US until January 2011 through a subsidiary Korres North America.
After this time, J&J will sell and distibrute the products paying a royalty on all products sold until 2019.
The minimum royalty paid to Korres before 2014 will be $10.25m.
