( FT ) -- Unilever is to buy Alberto Culver , the US-based consumer goods company , for $ 3.7bn ( £2.3bn ) in a deal that will bring brands such as TRESemmé and VO5 into the Anglo-Dutch conglomerate 's stable of haircare and skincare products . `` We are delighted to be acquiring Alberto Culver , '' Paul Polman , Unilever chief executive , said on Monday . `` Their people have done an excellent job of building an impressive range of brands such as TRESemmé , VO5 , Nexxus , St. Ives and Simple . These will complement Unilever 's existing portfolio of iconic brands like Dove , Clear and Sunsilk in hair care and Pond 's and Vaseline in skincare , and will help build on our strong global positions in both the hair care and skin care categories . '' Shares in Unilever rose 0.3 per cent or 6p to £17.99p in early London trading on Monday . For the 12 months to June , Alberto Culver made revenues of $ 1.6bn ( £1.1bn ) and earnings before interest , tax , depreciation and amortization of more than $ 250m ( £158m ) . The all-cash deal includes $ 150m of Alberto Culver 's debt . Alberto Culver group employs 2,700 people and has operations in nine countries , including the US , Canada , the UK , Argentina , Mexico and South Africa . While it produces products such as low-sodium food dressings and baking sprays , the acquisition is most significant for adding further weight to Unilever 's operations in so-called `` personal care '' products such as skincare , haircare and bodywash . Personal care is the fastest-growing category for global consumer goods companies , especially in emerging markets , and the Alberto Culver acquisition will allow Unilever to have more products across a broader range of price points . In the most recent quarter , Unilever 's sales of personal care goods rose 7.8 percent to €3.6bn , compared with growth of only 3.5 percent for ice-cream and beverages , and 0.5 percent for savoury foods , dressings and spreads . The story is the same at Reckitt Benckiser , the maker of Cillit Bang cleaner and Finish dishwasher powder , where health and personal care is growing at 14 percent a year , compared to 8 percent growth across the whole business . The drive to access this fast-growing category prompted Reckitt to purchase SSL International , the maker of Durex condoms and Scholl footcare , in July for £1.5bn ( $ 2.3bn ) . The Alberto Culver acquisition is the second major deal by Unilever in this product category this year . In September 2009 , the group bought the personal care division of Sara Lee , securing Radox bubblebath and Brylcreem hairgel , although the European Commission is still scrutinizing the deal . `` Personal Care is a strategic category for Unilever and growing rapidly , '' said Mr Polman . `` Ten years ago it represented 20 percent of our turnover ; strong organic growth has now driven it to reach over 30 percent , with strong positions in many of the emerging markets . `` Organic growth remains the cornerstone of our energizing ambition to double the size of Unilever whilst reducing our overall environmental impact . Bolt-on acquisitions such as Alberto Culver supplement organic growth and add powerful new brands to our portfolio . '' Initial analyst response to the acquisition was positive . `` The initial consideration for Alberto Culver of 14.8x EBITDA on the face of it looks quite punchy , but we believe 'significant ' but as yet undisclosed synergies will make the price look more reasonable , '' said Graham Jones and Damian McNeela at Panmure Gordon in a note to investors . `` It further skews Unilever to high-growth , high-margin personal care categories , gives a more rounded category presence in hair care and makes it global leader in hair conditioning , number two in shampoo and number three in styling . ''
Anglo-Dutch conglomerate Unilever to buy Alberto Culver for $ 3.7bn ( £2.3bn ) . Alberto Culver is US-based consumer goods company with famous haircare brands . For the 12 months to June , Alberto Culver made revenues of $ 1.6bn ( £1.1bn ) . Alberto Culver group employs 2,700 people and has operations in nine countries .