P&G; Acquires Moist Mates

Procter & Gamble Co. said Monday that it acquired Placentia-based Moist Mates, the first maker of moist bathroom tissue, as the manufacturer of Charmin tissue takes on Kimberly-Clark Corp. in a new product category. Terms weren’t disclosed.

Procter & Gamble, the consumer products giant, said it will sell the wet tissue under a new name, Charmin Fresh Mates, in the Southeast and New England in July.

Moist Mates introduced the wet tissue several years ago. The product will continue to be made by an outside contract manufacturer in California, P&G; said.

The purchase gives P&G; a product to compete with Kimberly-Clark’s Cottonelle Fresh Roll. Shares of Cincinnati-based P&G; rose 38 cents to close at $64.65 on the New York Stock Exchange.