MELROSE PARK, Ill. Alberto-Culver has signed an agreement to acquire from Procter & Gamble the worldwide rights and trademarks to the Noxzema skin care brand.
The deal includes the existing business in the United States, Canada and portions of Latin America. P&G will continue to operate its existing Noxzema shave care, antiperspirant/deodorant, body wash and body soap business in portions of Western Europe.
Financial terms of the deal were not disclosed. The transaction is subject to customary closing conditions, including obtaining certain regulatory approvals.
“Noxzema is an iconic U.S. skin care brand and our team is very excited to add Noxzema to our beauty care product portfolio. The Noxzema brand has great equity among consumers and, together with our existing St. Ives skin care brand, will provide us with significant opportunities for growth in the skin care category,” stated Alberto-Culver president and chief executive officer V. James Marino.