(Adds details, CHICAGO dateline)
CHICAGO, Sept 3 (Reuters) - Procter & Gamble Co PG.N said on Wednesday it has acquired Nioxin Research Laboratories Inc, adding products for thinning hair to a haircare line that includes the Head & Shoulders and Wella brands.
Financial terms of the acquisition were not disclosed.
Nioxin is sold in salons in more than 40 countries and P&G spokeswoman Mary Atherton said P&G would not try to market the products in mass retail channels. She would not say if P&G would use the Nioxin technology to develop another product to be sold in other channels.
Nioxin, which sells products that treat the scalp to improve the appearance of thinning hair, fits with P&G’s strategy to expand its salon products business, said Kevin Otero, general manager, P&G Professional Care, North America.
P&G shares were up 73 cents at $71.19 on Wednesday on the New York Stock Exchange. (Reporting by Brad Dorfman, editing by Dave Zimmerman)
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