Unilever to sell VO5 in the USA
Unilever to sell the Alberto VO5 brand in the United States and Puerto Rico, and the Rave brand globally to Brynwood Partners VI L.P.
London & Rotterdam: 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’sportfolio 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 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.
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