P&G buys FAB

Procter & Gamble plans to acquire First Aid Beauty (FAB), a rival independent skin care brand. The acquisition has a value of $250 M, according to reports.

FAB brings to P&G its products for sensitive skin and conditions such as eczema and dryness.

P&G says FAB will operate as a wholly owned subsidiary. FAB CEO Lilli Gordon, who founded FAB in 2009, will stay on as CEO, as will her current management team. Other FAB employees will transition to P&G.

FAB has some $50 M in annual sales, according to the same sources that pegged the buyout at $250 M.

This is the fifth recent acquisition for P&G. CEO David Taylor says more may be on the way.

A closing date for the purchase hasn’t been announced.

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