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P&G to buy Fekkai hair-care firm

March 26, 2008|From the Associated Press

CINCINNATI — Procter & Gamble Co. is adding luster to its beauty business, making a deal for a luxury hair-care brand.

The Cincinnati-based consumer products company is acquiring New York-based Frederic Fekkai & Co., which includes high-end hair-care products and salons.

Terms of the acquisition from private equity firm Catterton Partners weren't disclosed.

The deal is part of P&G's focus on building its high-margin, fast-growing beauty business.

"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," said Randall Chinchilla, a spokesman for P&G's beauty business.

The purchase would add to P&G's line of upscale beauty products that includes SK-II skin care and Hugo Boss fragrances.

The company, whose biggest-selling brands include Pantene and Head & Shoulders shampoos, makes household products including Tide detergent, Pampers diapers and Gillette shavers.

The French-born Fekkai will have an continuing role, P&G said.

"He will continue to drive creative efforts, brand image and product developments," Chinchilla said.

Besides hair-care products for women and men, Fekkai has salons in New York, Los Angeles, Beverly Hills, Dallas and Palm Beach, Fla.

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