Unilever has completed its deal to buy TIGI, the Toni & Guy premium hair care business, for $411.5m (£295m).

A spokesman confirmed the company had "obtained the required regulatory clearances and has completed the acquisition of the TIGI hair care product business and Advanced Education Academies".

Unilever already owns hair care products such as Silvikrin and Timotei, but this is its first step into hair salon products and will add new names to its portfolio such as Bed Head, Catwalk and S-Factor. Toni & Guy co-founders and brothers Bruno, Guy and Anthony Mascolo will retain ownership of the chain of hair salons.