P&G Buys Scalp Care Company
The Procter & Gamble Company (P&G) announces the closing of an agreement to purchase NIOXIN Research Laboratories Inc. A leader in the scalp care professional haircare segment, NIOXIN offers a range of products that focus on the scalp in order to improve the appearance of thinning hair. The company's product line is distributed throughout salons and salon stores in more than 40 countries. The acquisition is in line with P&G Beauty's strategy of focusing on faster growing, higher margin and more asset-efficient businesses. P&G says that current NIOXIN CEO, Brian Graham, will continue to lead the business.
Robert Jongstra, president, P&G Professional Care, comments, "This acquisition is a great strategic fit given P&G's leadership and proven strength in its retail scalp care business. Further, P&G's global scale creates opportunities to further grow the NIOXIN brand in key markets around the world. By bringing these two complementary businesses together, we create a strong global platform to leverage the innovation pipeline of both companies."
"Our goal is to further grow the NIOXIN business with their current organization, brand portfolio and distribution partners," says Kevin Otero, general manager, P&G Professional Care, North America.
Robert Jongstra, president, P&G Professional Care, comments, "This acquisition is a great strategic fit given P&G's leadership and proven strength in its retail scalp care business. Further, P&G's global scale creates opportunities to further grow the NIOXIN brand in key markets around the world. By bringing these two complementary businesses together, we create a strong global platform to leverage the innovation pipeline of both companies."
"Our goal is to further grow the NIOXIN business with their current organization, brand portfolio and distribution partners," says Kevin Otero, general manager, P&G Professional Care, North America.