Helen of Troy Limited is in the process of acquiring the global Infusium 23 hair care business from The Procter & Gamble Company. The transaction is expected to close by March 31, 2009. Financial details have not been disclosed.
Infusium 23 is a therapeutic hair care business featuring shampoos, conditioners and leave-in treatments. The brand will be integrated into Helen of Troy’s Idelle Labs division of skin and hair care products.
“We currently have a leading position in hair care styling and adding Infusium 23 will enhance our role as a comprehensive provider of solutions for our hair care consumers and styling professionals,” commented Gerald J. Rubin, Chairman, Chief Executive Officer and President, in a release.
Mr. Rubin also said he expects the deal to add to Helen of Troy’s earnings immediately. The company estimates the Infusium 23 business to generate about US$ 40 million in sales on an annualized basis
Last October, Helen of Troy bought hair-care products label Ogilvie from bankrupt Ascendia Brands Inc for about US$ 4.7 million.