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September 2008

Procter & Gamble buys Georgia-based scalp care products maker Nioxin Research Laboratories

Sept 2008

Procter & Gamble Co. has acquired Nioxin Research Laboratories Inc., a manufacturer of professional scalp care products for thinning hair.

P&G did not release financial terms of the agreement announced Wednesday.

Cincinnati-based P&G says Nioxin products are sold in salons and salon stores in more than 40 countries.

The consumer products giant says the Lithia Springs, Ga.-based company fits P&G's strategy of focusing on faster growing, higher margin and more asset-efficient businesses in its beauty segment. "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 of P&G Professional Care.

P&G's retail haircare brands include Head & Shoulders and Herbal Essences.

The acquisition also fits P&G's strategy of expanding its salon products, said Kevin Otero, general manager of P&G Professional Care for North America. 

Brian Graham, current Nioxin chief executive, will continue to lead the business, P&G said.

Graham said the companies' combined expertise in hair and scalp innovation will serve as a platform for future collaboration on offerings for consumers. 

Eva Graham founded the privately held Nioxin Research Laboratories in 1987.

Shares of P&G climbed 95 cents in trading Wednesday to close at $71.42.