Procter & Gamble Co. said Sept. 3 it has acquired hair-care products company Nioxin Research Laboratories Inc. in an effort to grow its salon industry offerings.
Nioxin makes products designed to improve thinning hair and overall scalp health. The Nioxin brands are distributed through salons and salon stores in more than 40 countries.
The acquisition is part of P&G's strategy to focusing on faster-growing, higher-margin and more asset-efficient businesses.
"This acquisition is a great strategic fit given P&G's leadership and proven strength in its retail scalp care business," said Robert Jongstra, president, P&G Professional Care, in a prepared statement. "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."
P&G said current Nioxin CEO Brian Graham will continue to lead the business.
