Unilever Given Go-Ahead To Acquire Alberto Culver For 3.7 Billion
Friday, May 6th, 2011Unilever NV and the US Department of Justice have been wrangling over antitrust concerns as a result of Unilever NV’s attempt to acquire hair care giant Alberto Culver Co. for $3.7 billion dollars.
The good news for Unilever NV is that the antitrust issues have been settled. A final deal was announced Friday by the U.S. Department of Justice as reported by Goggle News and the Associated Press.
In order for Unilver NV to acquire Alberto Culver it much divest its VO5 hair care brand in the United States. Unilver will also sell of its Rave brand in the US.
The company can continue to sell VO5 and Rave outside the U.S. The VO5 brand consists of shampoo, conditioners, hairsprays, mousse and related hair styling products. Rave consists of hairsprays and mousse styling products.
The original proposal, if let stand by The Justice Department would have given Unilever NV approximately 90 percent of the U.S. low end priced market for shampoo and conditioners and 46% of the U.S. hairspray market. (more…)