Company News

P&G Buys Majority of Germany’s Wella

Author Image

By: TOM BRANNA

Editor

Procter & Gamble Co. has signed an agreement with the founding Stroeher family shareholders of Wella AG to acquire 77.6% of their common shares, the German hair-care company said Tuesday. This represents 50.7% of Wella’s total share capital, and amounts to an overall payment of 3.2 billion euros ($3.40 billion), or 92.25 euros a voting share.P&G, fulfilling its monthslong quest to acquire a major European cosmetics business, is set to clinch a deal to acquire Wella for roughly $5...

Continue reading this story and get 24/7 access to Happi for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Happi Newsletters