Sept. 8 (Bloomberg) -- Alberto-Culver Co., the maker of Alberto VO5 and Tresemme shampoos, agreed to buy the Noxzema skin-care brand from Procter & Gamble Co.

Procter & Gamble will continue to run its Noxzema shaving, deodorant and body-wash business in parts of western Europe, Alberto-Culver said in a statement today. It didn't specify the value of the transaction.

``Noxzema is an iconic U.S. skin-care brand,'' Alberto- Culver Chief Executive Officer V. James Marino said in the statement. The brand, together with St. Ives lotions, will help the company grow in the skin-care industry, he said.

Procter & Gamble shares rose $1.59, or 2.3 percent, to $72.37 at 4:15 p.m. in New York Stock Exchange composite trading. Alberto-Culver gained 88 cents, or 3.2 percent, to $28.44.

To contact the reporter on this story: Duane D. Stanford in Atlanta at dstanford2@bloomberg.net

Last Updated: September 8, 2008 16:26 EDT