The acquisition that’s been months in the making has today been finalised, with Unilever purchasing personal care company Alberto Culver for $US3.7 billion. The move represents the biggest acquisition by Unilever in the past decade.
The deal sees leading brands including , , and St. Ives added to Unilever’s already impressive stable of brands, which includes , , and .
As part of the deal, the US Department of Justice ordered Unilever to divest two brands: Alberto VO5 in the US and Rave, from the Unilever portfolio.
Sebastian Lazell, chairman of Unilever Australasia said, We are very pleased to welcome the Alberto Culver brands into our portfolio of personal care products. The purchase of Alberto Culver supports our position in this rapidly growing category and demonstrates our ongoing commitment to expand and strengthen the business in Australia. We look forward to growing and developing the brands further.”
Alberto Culver’s shareholders voted last year to approve the acquisition by Unilever.