By  on April 1, 2009

Procter & Gamble Co. has sold off its ethnic brands to a husband-and-wife team who plan to return them to their former glory.

Johnson Products Company, the maker of African-American hair care products, which P&G acquired five years ago with its purchase of Wella, has been purchased by RCJP AcquisitionInc., a newly formed company based in Los Angeles funded by private equity firms Rustic Canyon/Fontis Partners LP and St. Cloud Capital LLC.

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