Beauty giant buys Camay globally and Zest outside of North America and the Caribbean
Unilever has announced the purchase of the Camay brand globally and the Zest brand outside of North America and the Caribbean, from Procter & Gamble.
The deal also includes the sale of Procter & Gamble's Talisman bar soap manufacturing facility in Mexico, which employs approximately 170 people who will transfer to Unilever at the completion of the deal. The transaction, for an undisclosed amount, is expected to close during the first half of 2015 subject to necessary regulatory approvals.
Both Camay and Zest offer bath and body care products in different markets globally. P&G sold the rights to the Zest brand in the US, Canada and Caribbean markets to private-equity firm Brynwood Partners in 2011.
"We are excited about the acquisition of the Zest and Camay brands. They represent an excellent strategic fit for us and will further strengthen our global position in skin cleansing. The brands will benefit from our innovation and R&D capabilities. They will make us one of the market leaders in skin cleansing in Mexico, a priority market for Unilever and one of the largest markets in the world," said Alan Jope, President of Unilever Personal Care.
P&G commented that "the sale of both brands is consistent with its strategy to focus on its core brands that will create a faster growing, more profitable P&G that is far simpler to operate".