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Procter & Gamble plans to buy women's personal care company Billie

Procter & Gamble Co. said Jan. 8 that it plans to acquire subscription-based, direct-to-consumer brand Billie Inc., whose products include shaving supplies and premium body care items for women.

Financial terms of the transaction were not disclosed, but the U.S. consumer goods maker said the move will strengthen its female grooming business and accelerate growth for Billie.

Procter & Gamble also expects the acquisition to help it develop new products designed for the specific needs of women.

Billie co-founders Georgina Gooley and Jason Bravman will continue to lead the brand.