Unilever announced today that it 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’s portfolio 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.About Unilever Unilever works to create a better future every day. We help people feel good, look good and get more out of life with brands and services that are good for them and good for others. Unilever is one of the world’s leading suppliers of fast moving consumer goods with strong operations in more than 100 countries and sales in 180. Consumers buy 170 billion Unilever packs around the world every year, and our products are used over two billion times a day. Our portfolio includes some of the world’s best known and most loved brands including twelve €1 billion brands, and global leadership in many categories in which we operate. The portfolio features iconic brands such as: Knorr, Hellmann’s, Lipton, Dove, Vaseline, TRESemmé, Nexxus, St. Ives and Simple.