PROCTER & GAMBLE ACQUIRES CLAIROL BUSINESS
By Adnews Staff
Procter & Gamble, based in Cincinnati, OH, plans to acquire the Clairol business from New-York-based Bristol-Myers Squibb for $4.950 billion in cash. Clairol's line of hair color and hair care products includes the Nice 'n Easy, Natural Instincts, Miss Clairol and Hydrience brands as well as the Herbal Essences, Aussie and Infusium lines. "Clairol brings P&G into the fast-growing business of hair colorants and positions us for further growth in one of our core business categories: hair care," said P&G's president and chief executive A.G. Lafley. Bristol-Myers announced its intent to sell the Clairol business last fall to focus to attention on its core medicines business. The sales is subject to regulatory approvals.
« Back Next »
Comments
blog comments powered by Disqus