The Procter & Gamble Co. (Cincinnati) will acquire Frédéric Fekkai & Co. (New York), maker of high-end hair care products and operator of a chain of salons.

P&G said the French-born Fekkai will have an ongoing role. "He will continue to drive creative efforts, brand image and product developments," said Randall Chinchilla, a spokesman for P&G’s beauty business.

Fekkai said in a statement that he looks forward to building on his company's success with "a partner who shares our vision of creating a truly global brand that is synonymous with creativity, elegance and style."

Besides hair care products for women and men, Fekkai has salons in New York, Los Angeles, Beverly Hills, Calif., Dallas and Palm Beach, Fla., with more planned, including one opening this spring in Greenwich, Conn.

The agreement, subject to regulatory approval, is part of a P&G focus on building its high-margin, fast-growing beauty business. "Fekkai is a strategic fit for our hair care portfolio and a demonstration of our desire to win with key brands in the prestige channel," said Chinchilla. Fekkai products are sold in high-end stores like Neiman Marcus, Saks Fifth Ave. and Nordstrom, where Procter has little, if any, penetration for its hair care products.

P&G's line of upscale beauty products already includes SK-II skin care and Hugo Boss fragrances.