Unilever to buy personal care biz of Sara Lee for 1.3 bn euros
FMCG company Unilever said it will acquire the personal care business of US-based Sara Lee Corporation for 1.27 billion euros in cash to firm up its position in Western Europe and Asia.
By PTI |
LONDON: FMCG company Unilever on Friday said it will acquire the personal care business of US-based Sara Lee Corporation for 1.27 billion euros in cash to firm up its position in Western Europe and Asia.
In a statement Unilever said it has made a binding offer to acquire the personal care business of the Sara Lee Corporation for 1.27 billion euros in cash.
The transaction is subject to regulatory approvals and consultation with European employee works councils.
Unilever would add leading brands such as Sanex, Radox and Duschdas to its existing brands like Axe, Dove, Lux, Pond's, Rexona, Sunsilk among others in a move to strengthen its leadership in skin cleansing and deodorants category.
"We are delighted to have the opportunity to acquire such a strong stable of brands, which will help build on our global leadership positions in skin cleansing and deodorants. They are a perfect complement to Unilever's existing portfolio of brands like Dove, Axe and Rexona," Unilever President Foods, Home & Personal Care Vindi Banga said.
The Sara Lee brands generated annual sales in excess of 750 million euros with an Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of 128 million euros for the year ending June 2009.
In a statement Unilever said it has made a binding offer to acquire the personal care business of the Sara Lee Corporation for 1.27 billion euros in cash.
The transaction is subject to regulatory approvals and consultation with European employee works councils.
Unilever would add leading brands such as Sanex, Radox and Duschdas to its existing brands like Axe, Dove, Lux, Pond's, Rexona, Sunsilk among others in a move to strengthen its leadership in skin cleansing and deodorants category.
"We are delighted to have the opportunity to acquire such a strong stable of brands, which will help build on our global leadership positions in skin cleansing and deodorants. They are a perfect complement to Unilever's existing portfolio of brands like Dove, Axe and Rexona," Unilever President Foods, Home & Personal Care Vindi Banga said.
The Sara Lee brands generated annual sales in excess of 750 million euros with an Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of 128 million euros for the year ending June 2009.
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