Unilever Offload Two Hair Brands in US
The Finesse hair care brand in the US and Canada, and the Aqua Net brand in the US have been sold to Lornamead Brands Inc. The brands generated $85 million in combined revenue for 2005.
03/05/06 Unilever has announced that it has sold its Finesse hair care brand in the US and Canada, and its Aqua Net brand in the US, to Lornamead Brands Inc.
The brands generated $85 million in combined revenue for 2005. Financial terms of the deal were not released but the brands join a stable that includes Harmony hairspray and Yardley, which dates back to 1770 and was acquired by Lornamead from US giant Procter & Gamble (P&G) in October.
"This agreement takes us a step further in reshaping our hair care portfolio of brands in North America," stated John Rice, President of Unilever Americas. "It will enable us to focus on bringing innovation to market through our strong local and global brands."
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