Unilever Plc/NV is selling the Alberto VO5 shampoo and haircare brand in the United States and Puerto Rico and also its Rave hairspray brand globally to private equity firm Brynwood Partners as a condition of its acquisition of Alberto Culver.
The Anglo-Dutch consumer goods giant completed its $3.7 billion purchase of Alberto Culver in May this year and the divestiture was required by the U.S. Department of Justice.
The sale is expected to be completed by the end of August, but no financial terms were disclosed.
The Alberto Culver acquisition brought Unilever such haircare brands as TRESemme, Nexxus and Motions, while it will keep the Alberto VO5 brand outside the U.S. and Puerto Rico.
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