Completion of deal expected by end of August
Unilever has announced that it is selling the Alberto V05 brand in the US and Puerto Rico and the Rave brand globally to private equity company Brynwood Partners for an undisclosed sum.
The deal is subject to approval by the US Department of Justice and is expected to be finalised by the end of this month.
The divestiture is required by the US Department of Justice in conjunction with Unilever’s $3.7bn acquisition of the Alberto Culver company which was completed in May this year. Outside of the US and Puerto Rico the Alberto V05 brand will remain in Unilever’s portfolio.