Henkel Agrees to Buy Vidal Sassoon Brand in China From Procter & Gamble
By Pierre Bertrand
Henkel said agreed to buy hair-care brand Vidal Sassoon in China from Procter & Gamble.
The acquisition of the brand, including the related hair-care business, will help complement Henkel's existing offerings in the country, the German consumer-goods and chemicals group said Thursday.
"The transaction will be a step-change for our Consumer Brands business in China, providing the opportunity to further scale our business in one of our core categories in this attractive, growing market," Henkel CEO Carsten Knobel said.
Vidal Sassoon in 2023 generated more than 200 million euros ($216.4 million) worth of sales in China, the company said.
Henkel didn't disclose financial details.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
February 01, 2024 02:37 ET (07:37 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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