CINCINNATI — Procter & Gamble Co., here, purchased the high-end male grooming brand, The Art of Shaving, which owns 36 stores and sells products in department stores.
The purchase of this Miami-based company is another step in the two companies' existing relationship. In 2007 they joined together to create a $150 Fusion Chrome Power Collection Power Razor to accompany a $100 manual version.
The most recent move is said to broaden P&G's strong portfolio of male grooming products, epecially in the high-end segment. The Art of Shaving is not P&G's first acquisition of a shaving brand; the company acquired Gillette Co. in 2005 for $57 billion.
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