Procter and Gamble acquires HDS Cosmetics Lab

Procter & Gamble has announced the acquisition of HDS Cosmetics Lab from private equity firm North Castle Partners. HDS Cosmetics Lab manufactures and markets the Doctor’s Dermatologic Formula (DDF) brand of skincare products.

These products are designed for a number of conditions, including acne and hyperpigmentation and are sold in a number of countries worldwide.

The financial terms of the transaction have not been disclosed.

Procter & Gamble intends to use innovation and its marketing abilities to develop the future expansion of the DDF line.

Paolo DeCesare, president of global skincare at Proctor & Gamble, said: “The addition of DDF to our existing portfolio provides us with the ideal opportunity to reach new consumers in new channels.”

He added that this transaction would enable the company to focus more closely on skincare, as it has previously set out in its corporate strategy, with the sector believed to be an area of key growth.

Last month, Procter & Gamble announced its sales and earnings guidance for the second quarter of the 2006/07 financial year.

The company predicted a five to eight per cent increase in sales, with diluted earnings per share forecast at $0.81-$0.83 (0.41-0.42 pounds).