The Alberto-Culver Company is selling Cederroth International in order to concentrate on its core beauty care brands. Cederroth manufactures and markets consumer products, including beauty care products, in the Nordic region and parts of Europe. A fund managed by Nordic-based private equity firm CapMan will purchase all Cederroth’s outstanding capital stock, subject to closing conditions.
V James Merino, Alberto-Culver’s president and chief executive officer, said: “We are very pleased to have found a strong buyer in CapMan with their Nordic region insight and experience in consumer products. For Alberto-Culver, this transaction facilitates our ability to focus on growing our core beauty care brands TRESemme, Nexxus, Alberto VO5 and StIves.”
Alberto-Culver has owned Cederroth since the early 90s. Since then, it has been operated as a stand-alone, wholly owned subsidiary of Alberto-Culver.