"Our combined expertise in hair and scalp innovation will serve as a tremendous platform for future ideation collaboration and offerings for consumers around the globe and we are pleased to join P&G's Professional Hair Division."
The Procter & Gamble Company (NYSE: PG) today announced the closing of
an agreement to purchase NIOXIN Research Laboratories, Inc. A leader in
the scalp care professional haircare segment, NIOXIN offers a range of
innovative products that focus on the scalp to improve the appearance of
thinning hair. The Company's product line is distributed through salons
and salon stores in more than 40 countries. The acquisition is in line
with P&G Beauty's strategy of focusing on faster growing, higher margin
and more asset-efficient businesses.
"NIOXIN is the leading brand in the specialty thinning hair segment with
strong brands, excellent management and a deep expertise in the
professional hair businesses," said Robert Jongstra, President, P&G
Professional Care. "This acquisition is a great strategic fit given
P&G's leadership and proven strength in its retail scalp care business.
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."
"Our goal is to further grow the NIOXIN business with their current
organization, brand portfolio and distribution partners," said Kevin
Otero, General Manager, P&G Professional Care, North America. "NIOXIN
will be an important part of our portfolio to further maximize our
services, education and salon business support. The acquisition
strengthens P&G's continued commitment to grow the salon industry and
create new opportunities for our customers, stylists and consumers while
building on our professional leadership in the haircolor segment with
another strong haircare brand."
P&G said current NIOXIN CEO, Brian Graham, will continue to lead the
business. "Brian is a tremendous leader and asset with a strong passion
for this brand and for the industry," said Otero.
"P&G is a remarkable consumer products company with a proven track
record of building leading global brands," said Graham. "Our combined
expertise in hair and scalp innovation will serve as a tremendous
platform for future ideation collaboration and offerings for consumers
around the globe and we are pleased to join P&G's Professional Hair
"In a world of globalization, we are proud to join the family of P&G
brands," said Eva Graham, NIOXIN Founder. "Aligning our strategic
interest will deliver ongoing rewards for the future development and
expansion of the NIOXIN Brand."
Michel Dyens & Co. acted as exclusive financial advisor to NIOXIN
Research Laboratories, Inc. in this transaction.
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About NIOXIN Research Laboratories, Inc.
NIOXIN(R) is the leading provider of advanced skincare solutions that
treat the scalp to improve the appearance of fine and thinning hair.
Founded in 1987 by Eva Graham, this privately-held company has been
dedicated to providing education, training and products for the
professional salon industry around the world. Distributed in more than
42 countries on six continents, NIOXIN(R) continues to define the global
market for fine and thinning hair.
P&G External Relations Mary Atherton, Media Relations, +1-513-262-6660