(Bloomberg) — Procter & Gamble Co. agreed to acquire Mielle Organics, a beauty company that makes products for textured hair.
(Bloomberg) — Procter & Gamble Co. agreed to acquire Mielle Organics, a beauty company that makes products for textured hair.
Mielle will operate as an independent subsidiary of P&G Beauty and will continue to be led by husband-and-wife duo Monique and Melvin Rodriguez, who founded the company in 2014. The companies didn’t disclose terms of the deal.
P&G Beauty’s role will be to support Mielle, including by investing in research and innovation, according to a statement Wednesday. Regulatory approvals are pending.
Natural ingredients are the selling point for Mielle, which caters to Black women, P&G said. The consumer-goods giant has added several brands to its beauty roster in recent years, including Tula Skincare and Ouai.Â
P&G is scheduled to report quarterly earnings on Jan. 19.
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