Unilever to buy Alberto Culver Unilever, a leading company in consumer goods segment is set to acquire the US-based hair-care group Alberto Culver for $3.7 bn.

Consumer good leader: Unilever

The world’s leading consumer product company, Unilever is planning to takeover Alberto Culver, a hair-care company based in the US for $3.7 billion in cash. The announcement came on Monday, highlighting the details of the takeover deal in an agreement formed between Unilever and Alberto Culver. Alberto Culver, the hair-care and styling firm generated greater-than-expected annual sales of US$ 1.6 billion. Hence, once the acquisition is over, Unilever will become the world’s leading company in the hair condition sector. Moreover, the deal will help promote Unilever’s brand position and market presence in the US, giving a boost to its global corporate image. CEO of Unilever, Paul Polman said, “we are delighted to be acquiring Alberto Culver. Their people have done an excellent job of building an impressive range of brands such as TRESemme, VO5, Nexxus, St. Ives and Simple. These will complement Unilever`s existing portfolio of iconic brands like Dove, Clear and Sunsilk in hair care and Pond`s and Vaseline in skin and will help build on our strong global positions in both the hair care and skin care categories. ``

"Personal care is a strategic category for Unilever and growing rapidly. Ten years ago it represented 20 percent of our turnover; strong organic growth has driven it to now reach over 30 percent, with strong positions in many of the emerging markets," added Polman. Unilever is also targeting markets in the UK, Canada, Mexico and Australia regions, which are essential beauty and personal care markets. • SIGN UP to join the Stockmarket Community • More Stockmarket News