Founder of SheaMoisture, Richelieu Dennis, Acquires Essence From Time Inc. | The Root "This acquisition of Essence represents the beginning of an exciting transformation of our iconic brand..." by KOLUMN Magazine Staff January 9, 2018 KOLUMN Magazine Staff KOLUMN Magazine celebrates the lives of People of Color by… Angela Helm, The Root Benjamin Norman for The New York Times, Featured Image Essence Communications Inc., the 48-year-old mutliplatform brand that owns Essence magazine and the annual Essence Festival, has gone back to black (ownership), having been acquired by Essence Ventures LLC, an independent African-American-owned company, Essence Ventures announced in a press release. As reported earlier by Journal-isms for The Root, the Essence brand was not part of the historic, nearly $3 billion sale of Time Inc. to the Meredith Corp. in November 2017. See Also Slain Tulsa Doctor Was Harvard Medical School Graduate Who Went On Medical Missions to Africa | BET The brand was looking for another buyer and has apparently found one with Essence Ventures, which was founded and is chaired by Liberian-American Richelieu Dennis, who also is founder of SheaMoisture (in November, Unilever acquired the parent company for SheaMoisture, Sundial Brands). CLICK TO READ THE FULL ARTICLE | The Root
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