Costa Mesa, Calif.-based Advanced Research projects sales of $133 million in 2003 after several years of double-digit sales growth for its fashion-oriented and ethnic hairstyling products, Henkel said.
Henkel agreed to purchase Dial Corp.,
Combined with Henkel's Dep and L.A. Looks brands, the addition of Advanced Research pushes Henkel past L'Oreal to become No. 3 in the U.S. hair-styling aids market behind Unilever and Procter & Gamble Co.
Gain for DDB?
The deal could be a pickup for Henkel's global agency, Omnicom Group's DDB Worldwide, whose Los Angeles office currently handles Dep and L.A. Looks. A Henkel spokesperson could not immediately be reached for comment.
Henkel was unsuccessful earlier this year in a bid to acquire fellow German hair-care maker Wella when P&G gained control of 80% of the company. Henkel, which also owns the Schwarzkopf brand marketed primarily in Europe, later sold its minority stake in Wella to P&G.