Unilever to Sell VO5 Brand in the USA to Private Equity
The divestiture is required by the US DOJ in conjunction with Unilever’s $3.7 billion acquisition of the Alberto Culver Company, which was completed on May 10, 2011.
Aug 25 2011 --- Unilever has reached an agreement to sell the Alberto VO5 brand in the United States and Puerto Rico from the Alberto Culver portfolio and the Rave brand globally from the Unilever portfolio to private equity firm Brynwood Partners VI L.P. The deal is subject to approval by the US Department of Justice (DOJ). It is expected to be completed by the end of August. Terms were not disclosed.
The divestiture is required by the US DOJ in conjunction with Unilever’s $3.7 billion acquisition of the Alberto Culver Company, which was completed on May 10, 2011.
The Alberto VO5 brand in the US and Puerto Rico includes shampoos, conditioners and hair-styling products, and the Rave brand consists of aerosol and non-aerosol hairsprays. Outside the United States and Puerto Rico, the Alberto VO5 brand will remain in Unilever’s portfolio.
The Alberto Culver acquisition included brands such as TRESemmé, Nexxus, Motions, St. Ives and Simple, which complement Unilever’sportfolio of iconic brands such as Dove, Clear, Suave, TIGI (Bed Head, Catwalk and SFactor) and Sunsilk in hair care and Pond’s and Vaseline in skin.
