CINCINNATI (AFX) - Consumer products company Procter & Gamble Co. said Monday it bought HDS Cosmetics Lab Inc. from private equity firm North Castle Partners.
Financial details of the transaction were not disclosed.
HDS makes and markets Doctor's Dermatologic Formula skin care line with products for anti-aging, acne, hyperpigmentation and sun protection. The acquisition builds on P&G's strategy to focus on skin care as a growth category.
Other brands that P&G bought and grew successfully include Pantene, Olay, Cover Girl, and Herbal Essences.
P&G shares fell 37 cents to close at $65.72 on the New York Stock Exchange.
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