Procter & Gamble is to buy German haircare product maker Wella for 5.4bn euros.
P&G which makes Crest toothpaste, Pringle snacks and Pampers nappies said it expected Wella to contribute about 3.4bn euros to its overall beauty sales.
P&G's boss Alan Lafley said Wella's hair salon products in Europe would be a good match with its own retail haircare brands Clairol, Pantene and Head & Shoulders.
Lafley added: “By bringing these complementary businesses together, we create significant opportunities for top and bottom line growth in haircare.”
P&G which makes Crest toothpaste, Pringle snacks and Pampers nappies said it expected Wella to contribute about 3.4bn euros to its overall beauty sales.
P&G's boss Alan Lafley said Wella's hair salon products in Europe would be a good match with its own retail haircare brands Clairol, Pantene and Head & Shoulders.
Lafley added: “By bringing these complementary businesses together, we create significant opportunities for top and bottom line growth in haircare.”
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