MELROSE PARK, Ill. — The Anglo-Dutch consumer products giant Unilever has agreed to acquire Alberto Culver Co. for $3.7 billion.
The Anglo-Dutch consumer products giant Unilever has agreed to acquire Alberto Culver Co. for $3.7 billion.
The deal will strengthen Unilever’s position in hair care, making it the world’s leading maker of conditioners, the No. 2 player in shampoo and the No. 3 player in styling products.
"We are delighted to be acquiring Alberto Culver," said Unilever chief executive officer Paul Polman. "Their people have done an excellent job of building an impressive range of brands such as TRESemme, VO5, Nexxus, St. Ives and Simple. These will complement Unilever’s existing portfolio of iconic brands like Dove, Clear and Sunsilk in hair care and Pond’s and Vaseline in skin and will help build on our strong global positions in both the hair care and skin care categories."
Alberto Culver generated sales of nearly $1.6 billion and EBITDA of more than $250 million for the 12 months ended June 30.