Unilever Gets Alberto Culver For $3.7 Billion

Anglo-Dutch consumer products giant Unilever UN said it has agreed to purchase Illinois-based Alberto Culver ACV for $3.7 billion to bolster its lineup of personal care products. Alberto Culver makes brands such as Nexxus, St. Ives and Static Gard. Alberto-Culver is the world's leading company in hair conditioning, the second largest in shampoo, and the third largest in styling, according to Reuters. Unilever is using the deal to increase its presence in markets such as the Australia, Canada, Mexico, the U.S. and the U.K. Unilever said the deal, if approved, will be accretive to earnings in the first full year following the transaction. Alberto Culver had sales of nearly $1.6 billion and earnings before interest, tax, depreciation and amortization (EBITDA) of over $250 million in the 12-month period ending June 30, 2010, Reuters reported.