Procter & Gamble buys men's skin care brand Zirh
CINCINNATI -- Procter & Gamble Co. said Tuesday it will buy the upscale men's skin care line Zirh to continue building its men's grooming business.
The world's biggest consumer-products company earlier this month bought Miami-based The Art of Shaving, another high-end male grooming brand that sells razors for more than $300 each.
Cincinnati-based P&G, whose many personal-care products oriented toward women include Olay skin creams and CoverGirl makeup, began a major move into male grooming by obtaining the Gillette and Braun brands with the 2005 acquisition of Boston-based Gillette Co.
New York-based Zirh was founded in 1995 and makes products using natural oils and extracts. Among them are shaving creams and gels with ingredients such as aloe vera and seaweed extract. They carry a suggested price of $22.50 for 8.4 ounces.
P&G leaders have said they plan to expand the company's product offerings in both price directions -- adding to its low-cost portfolio to compete with store brands and to its premium lineup for higher-margin sales.
P&G shares fell $1.23, or 2.4 percent, to close Tuesday at $50.10. They've traded in a 52-week range of $43.93 to $73.57.