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Alberto-Culver Buys Noxzema Brand Rights

Hair care products maker agreed to buy the rights and trademarks to the Noxzema skin care brand from consumer products company Procter & Gamble.

MELROSE PARK, Ill. (AP) -- Alberto-Culver Co., which makes hair care products, said Monday it agreed to buy the rights and trademarks to the Noxzema skin care brand from consumer products company Procter & Gamble Co.

The company said the agreement includes the existing business in the U.S., Canada and part of Latin America.

Procter & Gamble will continue to operate its Noxzema shave care, deodorant, body wash and body soap business in part of Western Europe.

Financial terms of the deal were not disclosed.

Shares of Alberto-Culver were unchanged in premarket trading from Friday's $27.56 closing price, while Procter & Gamble shares rose 73 cents to $71.51.

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