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Unilever buys hair care brands
By David Jones |
September 28, 2010, Tuesday
|
Print Edition
Print Edition
CONSUMER goods giant Unilever Plc/NV announced yesterday that it had agreed to buy United States-based hair care group Alberto Culver Co for US$3.7 billion in cash to boost its personal care business.
The Anglo Dutch group's acquisition will add brands such as V05, TRESemme and Nexxus, and make Unilever the world's leading company in hair conditioning, the second largest in shampoo, and the third largest in styling.
"Personal care is a strategic category for Unilever and growing rapidly," said Unilever Chief Executive Paul Polman. "Ten years ago it represented 20 percent of our turnover; strong organic growth has driven it to now reach over 30 percent, with strong positions in many of the emerging markets."
Unilever Plc shares rose 2.34 percent to 18.35 pounds in a slightly higher London stock market.
The US company made annual sales of nearly US$1.6 billion and earnings before interest, tax, depreciation and amortization (EBITDA) of more than US$250 million in the 12-month period ending June 30, 2010.
The deal, if approved, will significantly enhance Unilever's hair care presence in the US, Canada, Britain, Mexico and Australasia, all of which are expected by Unilever to be significant hair care markets for years to come.
"Bolt-on acquisitions such as Alberto Culver supplement organic growth and add powerful new brands to our portfolio," Polman added.
In another personal care deal announced yesterday, Britain's PZ Cussons said it had bought the tanning-products firm St Tropez from its private equity owner LDC for 62.5 million pounds (US$99,000,000).
The Anglo Dutch group's acquisition will add brands such as V05, TRESemme and Nexxus, and make Unilever the world's leading company in hair conditioning, the second largest in shampoo, and the third largest in styling.
"Personal care is a strategic category for Unilever and growing rapidly," said Unilever Chief Executive Paul Polman. "Ten years ago it represented 20 percent of our turnover; strong organic growth has driven it to now reach over 30 percent, with strong positions in many of the emerging markets."
Unilever Plc shares rose 2.34 percent to 18.35 pounds in a slightly higher London stock market.
The US company made annual sales of nearly US$1.6 billion and earnings before interest, tax, depreciation and amortization (EBITDA) of more than US$250 million in the 12-month period ending June 30, 2010.
The deal, if approved, will significantly enhance Unilever's hair care presence in the US, Canada, Britain, Mexico and Australasia, all of which are expected by Unilever to be significant hair care markets for years to come.
"Bolt-on acquisitions such as Alberto Culver supplement organic growth and add powerful new brands to our portfolio," Polman added.
In another personal care deal announced yesterday, Britain's PZ Cussons said it had bought the tanning-products firm St Tropez from its private equity owner LDC for 62.5 million pounds (US$99,000,000).
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