LONDON — Unilever has completed its $3.7 billion deal to acquire Alberto Culver Co.
Unilever has completed its $3.7 billion deal to acquire Alberto Culver Co.
The United Kingdom-based consumer products giant said Tuesday that it has obtained the necessary regulatory clearances to close the transaction, making it the world’s leading company in hair conditioning, the second-largest in shampoo and the third-largest in styling.
The announcement comes just days after Unilever unveiled an agreement with the U.S. Department of Justice in which it would divest the hair care brands Alberto VO5 from the Alberto Culver portfolio and the Rave hair brand from its own portfolio in order to proceed with the deal.
With the acquisition, Unilever picks up the beauty care and personal care brands TRESemme, Nexxus, St. Ives, Simple and Noxzema, as well as the ethnic hair care brands Motions and Soft & Beautiful and the household/grocery brands Mrs. Dash and Static Guard.
Unilever’s portfolio includes beauty and personal care brands Dove, Clear, Suave, TIGI (Bed Head, Catwalk and S-Factor) and Sunsilk in hair care and Pond’s and Vaseline in skin care, along with grocery brands such as Knorr Hellmann’s and Lipton.