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in England. Acquisitions are the main instrument companies use to implement a horizontal integration strategy (where two companies join together in the same industry) or a vertical integration strategy (where integration helps diversify the company). Following in the lead of their first acquisition, P&G continued to acquire companies abroad to aid in production, research , and development of new products for the first half of the 20th century. Over the second half, however, P&G saw the opportunities associated with product diversification through acquisitions and vertical integration. They included companies like Folgers Coffee, Old Spice (deodorant), Norwich Eaton Pharmaceuticals, and Max Factor (makeup) to diversify their product like and increase profits...
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