(FT) -- Unilever is to buy Alberto Culver, the US-based consumer goods company, for $3.7bn (£2.3bn) in a deal that will bring brands such as TRESemmé and VO5 into the Anglo-Dutch conglomerate's stable of haircare and skincare products.
"We are delighted to be acquiring Alberto Culver," Paul Polman, Unilever chief executive, said on Monday.
"Their people have done an excellent job of building an impressive range of brands such as TRESemmé, 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 skincare, and will help build on our strong global positions in both the hair care and skin care categories".
Shares in Unilever rose 0.3 per cent or 6p to £17.99p in early London trading on Monday.
For the 12 months to June, Alberto Culver made revenues of $1.6bn (£1.1bn) and earnings before interest, tax, depreciation and amortization of more than $250m (£158m). The all-cash deal includes $150m of Alberto Culver's debt.
Alberto Culver group employs 2,700 people and has operations in nine countries, including the US, Canada, the UK, Argentina, Mexico and South Africa.
CNN
