Proctor & Gamble has signed an agreement to buy Frederic Fekkai & Co., a luxury organic hair care brand that sells its products in such prestige stores as Neiman Marcus, Nordstrom and Sephora in the U.S.
Tradingurus.com reports the estimated cost of Frederic Fekkai & Co. “Procter & Gamble signed a deal to buy luxury hair-care brand Frederic Fekkai for slightly over $400 million.”
According to the International Herald Tribune, “the acquisition would add to P&G’s line of upscale beauty care products that includes SK-II skin care and Hugo Boss fragrances.”
The company, whose biggest-selling brands include Pantene and Head & Shoulders shampoos, makes a range of household products from Tide detergent to Pampers diapers to Gillette shavers.
The paper also quotes Randall Chinchilla, the P&G spokesman, commenting on the company’s future intentions. “Fekkai is a strategic fit for our hair care portfolio and a demonstration of our desire to win with key brands in the prestige channel.”
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