With Updated Acquisition Strategy, P&G Buys First Aid Beauty

Procter & Gamble is officially in deal mode again. With the acquisition of First Aid Beauty, Procter & Gamble has made its third beauty acquisition of 2018. First Aid, a prestige skin-care brand, adds a new price point to P&G’s skin-care offering and deepens the business’ exposure to the North American specialty retail channel. It also underscores a significant shift in P&G’s acquisition strategy. “P&G has bought other brands before and hasn’t been successful — what we’re doing very differently this time around in P&G Beauty is treating those brands as stand-alone, often with the founders staying with the brand,” said Alex Keith, president of global hair care and beauty at P&G. In line with that plan, FAB founder Lilli Gordon is staying on board as chief executive officer, reporting to Markus Strobel, president of P&G’s global skin and personal-care business. While P&G has “strong core brands” in beauty that it has been working to make relevant and grow, the business is looking to balance that with new brands that can meet different types of consumer needs, according to Keith. “It’s really important that we didn’t repeat the mistakes of the past, let’s say by assuming that those brands could meet all the needs

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