Unilever is hoping for a good hair day

first_img Unilever is hoping for a good hair day More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com whatsapp The acquisition of the firm behind household names such as V05 and TRESemme marks the single biggest Unilever acquisition in almost a decade.The new brands will complement Unilever’s existing portfolio, which includes Dove, Clear and Sunsilk in hair care, and Vaseline in skincare. It will also enhance Unilever’s presence in key emerging markets such as Mexico.Moreover, the deal will bolster Unilever’s flagging hair care sales in its core US market. In the last year Alberto Culver generated sales of $1.6bn and earnings of $250m.It is also likely to herald as-yet unspecified cost savings. Execution Noble called the deal “more evidence of a strategically and financially sound re-investment philosophy at Unilever” and Charles Stanley reiterated its “accumulate” recommendation in the wake of the news.The acquisition follows a yet-to-be completed deal to buy Sara Lee’s body care division for $1.3bn. The firm’s largest value acquisition was the massive $20.3bn acquisition of Bestfoods in 2000. Chief executive Paul Polman said: “Personal care is a strategic category for Unilever and growing rapidly. “Ten years ago it represented 20 per cent of our turnover; strong organic growth has driven it to now reach over 30 per cent, with strong positions in many of the emerging markets.”Unilever shares closed up 1.28 per cent on the back of the news yesterday. Monday 27 September 2010 8:42 pm KCS-content Show Comments ▼ whatsapp Share Unilever yesterday announced it will buy US hair and skin care specialist Alberto Culver in a deal worth $3.7bn (£2.34bn). Tags: NULLlast_img