I'm not sure if you knew this, but the Cincinnati-based Procter & Gamble Co. is acquiring the New York-based Frederic Fekkai & Co., which includes high-end hair care products and salons.
According to the Associated Press, the terms of the acquisition from private equity firm Catterton Partners weren't disclosed. The deal is part of P&G's focus on building its high-margin, fast-growing beauty business.
The purchase would add to P&G's line of upscale beauty products that includes SK-II skin care and Hugo Boss fragrances.
