VO5 sale to seal Unilever's Alberto Culver deal

9th May 2011 07:01

Anglo-Dutch household goods giant Unilever has received regulatory clearance to acquire US personal care and household brands firm, Alberto Culver, after agreeing to divest the Alberto VO5 and Rave brands in the US.After reaching an agreement with the US Department of Justice Unilever expects the acquisition to complete on or around 10 May. With the acquisition Unilever becomes the world's leading company in hair conditioning, the second largest in shampoo and the third largest in styling, the group said. Brands being acquired include TRESemmé and Nexxus, plus Alberto VO5, which Unilever will own the rights to outside of the US."This acquisition is a further step in Unilever's transformation," claimed Paul Polman, Unilever's chief executive officer. "The deal enhances Unilever's presence in attractive, high-growth categories and brings a portfolio of desirable brands that are gaining share. It also gives Unilever the opportunity to use its scale, reach and technology to take Alberto Culver's brands to a new level in existing markets, and enables us to use our unparalleled presence in emerging markets to extend them further," he added. ---jh