CINCINNATI -- Procter & Gamble here said last week that it signed an agreement to purchase a controlling interest in Wella AG, Darmstadt, Germany, a beauty company known for its upscale Wella, Sebastian and Koleston hair care brands, for 3.2 euros (U.S. $3.4 billion). The acquisition gives P&G 77.6% of Wella's voting shares. P&G will also assume Wella's 1.1 billion euros (U.S. $1.2 billion) in debt. "P&G and Wella are in highly complementary businesses," said A.G. Lafley, chairman of the board, president and chief executive of P&G. "Wella's strength in professional hair care complements P&G's strength in retail hair care. Wella's strength in color and styling complements P&G's strength in shampoos and conditioners." P&G bought Clairol in 2001 and this acquisition will add to the company's market share in the category. P&G's hair care brand portfolio also includes Pantene, Head & Shoulders and Herbal Essence. The company also announced that it intends to make a tender offer for the remaining voting and preference shares of Wella.