Unilever to buy Alberto for $3.7B

The maker of consumer goods will add hair- and skin-care brands through the deal.

By TheStreet Staff Sep 27, 2010 11:35AM

TheStreetBy Joseph Woelfel, TheStreet

 

Unilever (UN) has agreed to buy Alberto Culver (ACV) for $3.7 billion to expand its presence in hair and skin care.

 

Unilever, in a statement to the London Stock Exchange, said the acquisition of Alberto Culver will complement its Dove, Pond's and Vaseline products. Alberto Culver makes Tresemme, VO5 and Simple beauty products.

 

Unilever said the acquisition will make it the world's No. 1 company in hair conditioning, the second-largest in shampoo and the third-largest in styling products. The deal will also boost its presence in North America, Asia and Australia.

 

Unilever said the purchase will increase its earnings in its first year, excluding restructuring costs. Alberto Culver sales for the year through June were $1.6 billion. Its market capitalization is about $3.1 billion.

Unilever shares were rising 1% to $29.66 at 11:24 a.m. ET. The stock has gained 5.4% during the past year, while the S&P 500 ($INX) has advanced 9.6%. Alberto Culver shares are soaring 20% to $37.64 and have climbed 39% during the past year.

 

Related Articles

0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

RECENT QUOTES

WATCHLIST

Symbol
Last
Change
Shares
Quotes delayed at least 15 min
Sponsored by:

MARKET UPDATE

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Market index data delayed by 15 minutes

[BRIEFING.COM] The stock market capped the trading week with losses across the major averages. The S&P 500 fell 0.5% to surrender its weekly gain, while the Dow Jones Industrial Average (-0.7%) and Russell 2000 (-0.9%) underperformed. The two indices posted respective losses of 0.8% and 0.6% for the week.

Equity indices were pressured from the get-go after several heavyweights disappointed the market with their earnings and/or guidance, which led to some broader profit-taking. After ... More


Currencies

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Sponsored by:

VIDEO ON MSN MONEY