It was a controversial moment in the industry and the earliest signal of the M&A to come, when Cincinnati-based P&G, one of the world's largest and most profitable consumer-goods companies, entered the U.S. nutritional supplement market by acquiring Vermont-based New Chapter, known for its healing-driven mission and one-of-a-kind vitamin and herbal formulations.
Until now, Paul Schulick has led innovation and formulation of the 60+ products in the New Chapter formulary, staying firm to his codified principles that respect nature's wisdom and herbal synergy. A pioneer in whole food fermentation and supercritical extraction, Schulick has been a leading figure in the natural products industry.
Indeed, New Chapter managed to bounce back from the early wrath of retailers when the deal was announced. Its products have been repeatNatural Choice Awardwinners, awards bestowed by the retailers who readWholeFoodsMagazine.
A spokesperson for Procter & Gamble declined to answer whether the company would stay in Brattleboro.
"I can confirm that, after much consideration, Paul and Barbi Schulick made the decision not to renew their employment agreement upon expiration of their contract this summer. While I can’t comment on our strategic plans, I can confirm that New Chapter remains an important part of the P&G Personal Health Care portfolio. We will continue our mission of delivering the wisdom of nature through quality products our consumers expect and enjoy," said Heather Huff.
Barbi Schulick has been a steward of the New Chapter mission and culture, dedicated to coaching and growing leaders according to the values that governed the successful business from the start.
"Our cultural values were informed by what we put in the bottle—a promise of healing and transparency," said Barbi Schulick, in a press release. "Within those same values, our workplace thrived. Our name, New Chapter, arose from our vow to always make an optimal and truly innovative contribution to the marketplace. We weren't interested in being a redundant brand."
The Schulicks are grateful to P&G for what they brought to New Chapter over the past six years, mostly in regard to strong scientific support for the efficacy and quality of the original products. "We have many dear friends at New Chapter and wish them good fortune," she added.
The couple is currently putting their entrepreneurial energy into a new venture to be revealed over the coming months.
"Our commitment to purity and healing is as strong as it was 35 years ago," said Paul Schulick. "We look forward to discovering more ways to serve nature's wisdom."
> New Chapter Founders Describe Profit Pressures Under P&G: An Interview with Paul and Barbi Schulick
