Unilever to Sell the Alberto VO5 Brand in the United States & Puerto Rico & the Rave Brand Globally to Brynwood Partners VI L...
24 August 2011 - 2:30PM
Business Wire
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.
We have around 167,000 employees, and generated annual sales of
€44.3 billion in 2010. For more information about Unilever and its
brands, please visit www.unilever.com.
In 2010, we launched the Unilever Sustainable Living Plan aiming
to halve our overall environmental footprint. Unilever is Food
Industry Leader in the Dow Jones Sustainability World Indexes for
the 12th year running. We are included in the FTSE4Good Index
Series and attained a top environmental score of 5, leading to
inclusion in the FTSE4Good Environmental Leaders Europe 40 Index.
We are also ranked 7th in the Global 100 Most Sustainable
Corporations in the World, a list compiled by Corporate Knights
Magazine. We achieved Platinum Plus standard in the UK’s Business
in the Community Corporate Responsibility Index 2009, and were
named Company of the Year in 2010.
About Brynwood Partners
Founded in 1984, Brynwood Partners is an operationally-focused
private equity fund that makes control investments in lower middle
market companies. Brynwood Partners targets companies operating in
the following sectors: (a) consumer products, (b) light
manufacturing with low capital intensity, and (c) businesses
services.
Brynwood Partners is currently managing over $500 million of
private equity capital for its limited partners who include U.S.
and international pension funds, fund-of-funds, endowments, high
net worth family investment offices and financial institutions. For
more information on Brynwood Partners, please visit
www.brynwoodpartners.com.
Safe Harbour
This announcement may contain forward-looking statements,
including ‘forward-looking statements’ within the meaning of the
United States Private Securities Litigation Reform Act of 1995.
Words such as ‘expects’, ‘anticipates’, ‘intends’, ‘believes’ or
the negative of these terms and other similar expressions of future
performance or results, and their negatives, are intended to
identify such forward-looking statements. These forward-looking
statements are based upon current expectations and assumptions
regarding anticipated developments and other factors affecting the
Group. They are not historical facts, nor are they guarantees of
future performance. Because these forward-looking statements
involve risks and uncertainties, there are important factors that
could cause actual results to differ materially from those
expressed or implied by these forward-looking statements,
including, among others, competitive pricing and activities,
economic slowdown, industry consolidation, access to credit
markets, recruitment levels, reputational risks, commodity prices,
continued availability of raw materials, prioritisation of
projects, consumption levels, costs, the ability to maintain and
manage key customer relationships and supply chain sources,
consumer demands, currency values, interest rates, the ability to
integrate acquisitions and complete planned divestitures, the
ability to complete planned restructuring activities, physical
risks, environmental risks, the ability to manage regulatory, tax
and legal matters and resolve pending matters within current
estimates, legislative, fiscal and regulatory developments,
political, economic and social conditions in the geographic markets
where the Group operates and new or changed priorities of the
Boards. Further details of potential risks and uncertainties
affecting the Group are described in the Group’s filings with the
London Stock Exchange, Euronext Amsterdam and the US Securities and
Exchange Commission, including the Group’s Annual Report on Form
20-F for the year ended 31 December 2010. These forward-looking
statements speak only as of the date of this document. Except as
required by any applicable law or regulation, the Group expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in the Group’s expectations with
regard thereto or any change in events, conditions or circumstances
on which any such statement is based.
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024