P&G Buys HD Cosmetics Lab
P&G Buys HD Cosmetics Lab
The Cincinnati-based consumer products company bought HDS Cosmetics from North Castle Partners, a private equity firm based in Greenwich, Conn. The companies did not disclose details of the transaction.
The Doctor's Dermatologic Formula line includes products for anti-aging, acne, hyper-pigmentation and sun protection. The products are sold in select spas and in specialty retail and department stores.
P&G officials say the acquisition is part of its corporate strategy of focusing on skin care as a major growth category. Other brands acquired and grown by P&G include Pantene, Olay and Cover Girl.
North Castle invested in Yonkers, N.Y.-based HDS Cosmetics Lab in 2004. The skin care line was created in 1991 by New York City dermatologist Dr. Howard Sobel.
Shares of P&G fell 37 cents Monday to close at $65.72 on the New York Stock Exchange.
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