Procter & Gamble Buys Nioxin Research Laboratories

September 5, 2008 2:47 p.m. EST

Cincinatti, OH (AHN) - Procter & Gamble Co. has bought Nioxin Research Laboratories, a hair loss and scalp care research firm, for an undisclosed amount.

The acquisition Lithia Springs, Georgia-based firm is seen to boost P&G Beauty's strategy of focusing on faster growing, higher margin and asset-efficient businesses, according to a statement carried by Trading Markets.

Nioxin makes cleansers and scalp treatments for thinning hair, which are sold in hair salons and salon stores in over 40 countries.

Nioxin CEO Brian Graham will be retained as head of the business, P&G said.