Developers of personal care products, Helen of Troy, has completed the acquisition of Procter & Gamble’s Infusium 23 hair care brand in a deal which is set to close at the end of this month.
Developers of personal care products, Helen of Troy, has completed the acquisition of Procter & Gamble’s Infusium 23 hair care brand in a deal which is set to close at the end of this month.
While no financial details have been disclosed, it is known that the deal was a cash purchase. Gerald Rubin, Helen of Troy’s ceo, said of the acquisition: “We currently have a leading position in hair care styling with our innovative appliance and accessory businesses and by adding Infusium 23 we have enhanced our role as a comprehensive provider of solutions or our hair care consumers and styling professionals.”
Rubin added that P&G’s range will be absorbed into the company’s Idelle Labs division and it is estimated that this move will generate $40m worth of sales on an annual basis.
