Unilever Strengthens Personal Care Business With $3.7b Acquisition
Unilever is strengthening its personal care business by acquiring US-based Alberto Culver Company for $3.7b in cash. Alberto Culver generated sales approaching $1.6b and EBITDA of over $250m for the year ending June 30th 2010. The acquisition makes Unilever the world’s leading company in hair conditioning, the second largest in shampoo and the third largest in styling, and significantly enhances its hair care presence in the US, Canada, the UK, Mexico and Australasia.
“Personal Care is a strategic category for Unilever and growing rapidly. Ten years ago it represented 20% of our turnover; strong organic growth has driven it to now reach over 30%, with strong positions in many of the emerging markets,” explains Paul Polman, chief executive of Unilever. “Organic growth remains the cornerstone of our energising ambition to double the size of Unilever whilst reducing our overall environmental impact. Bolt-on acquisitions such as Alberto Culver supplement organic growth and add powerful new brands to our portfolio.”
