CINCINNATI (AP) -- Procter & Gamble Co. has agreed to sell the rights and trademarks to its Noxzema skin care brand to suburban Chicago-based hair care products maker Alberto-Culver Co.
Both companies confirmed the deal Monday. P&G beauty products spokesman Sean Parker says the sale reflects a strategic shift that will allow Cincinnati-based P&G to focus on its Olay and Doctor's Dermatologic Formula anti-aging brands.
The company says the agreement includes existing business in the U.S., Canada and part of Latin America. P&G will retain its mostly male-focused Noxzema shave care, deodorant and body cleanser business in Western Europe.
Financial terms of the deal were not disclosed.
Noxzema was created in 1914 and was acquired by P&G in 1989.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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