Procter & Gamble said Tuesday that it has signed an agreement to purchase Frédéric Fekkai & Co.
“We weren’t playing in the prestige department store hair care portfolio —and this fits in well with our intentions to do so,” a P&G spokeswoman said.
P&G acquired the brand from Catterton Partners, a consumer-focused private equity firm. The brand had been managed by Chrysallis, one of Catterton Partners’ management companies.
While terms of the deal were not announced, Fekkai told WWD in late November that his brand was on track to achieve revenues of about $100 million in 2007, including salon and product sales.
“We are lucky to be in luxury products, and we are benefiting from the great growth that they have seen in the last two years,” Fekkai said in November. “We are growing double digits every year. Let’s not forget that we are a brand, the only luxury brand in hair today that is national.”
Fekkai’s hair products are sold at Neiman Marcus, Nordstrom and Sephora, among other prestige stores, in the U.S.
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For more, see Wednesday’s issue of WWD.