P&G To Acquire Clairol.

The Procter & Gamble Company announced that P&G will purchase the Clairol business from Bristol-Myers Squibb Company (NYSE: BMY) for $4.950 billion in cash.

The Clairol acquisition launches P&G into the profitable and growing hair coloring market. Clairol’s hair colorant brands include Nice ‘n Easy, Natural Instincts, Miss Clairol, and Hydrience. Clairol also brings some outstanding hair care brands, including Herbal Essences, Aussie and Infusium.

“Clairol’s brands are known and loved by millions of consumers around the world,” said A.G. Lafley, president and chief executive of P&G. “Clairol brings P&G into the fast-growing business of hair colorants and positions us for further growth in one of our core business categories: hair care. This acquisition has all the right elements — leadership brands, attractive margins and potential for growth. It is a winning combination for our consumers, our customers, our company, and our shareholders.”