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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.
P&G officials also say Nioxin makes a great strategic fit. P&G's hair-care line includes Head & Shoulders and Herbal Essences.
P&G says Nioxin CEO Brian Graham will continue to lead the business.
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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