The US-based company has announced its agreement to sell Cederroth International, a Swedish business with a number of brands in the healthcare, personal care, household and first aid sectors.
The company acquired Cederroth International in the 1990s and it has always been operated as a stand alone subsidiary concentrating on the Nordic region.
Financial details of the deal have not been disclosed and the sale is subject to a number of regulatory approvals although the company believes the transaction will be closed this summer.
Concentrate on key brands
Alberto-Culver's decision to sell the business unit to the private equity firm CapMan was prompted by a wish to concentrate on a number of its beauty brands.
"For Alberto-Culver, this transaction facilitates our ability to focus on growing our core beauty care brands TRESemme, Nexxus, Alberto VO5 and St. Ives," said CEO James Marino.
The company's recently released quarterly results illustrated the importance of these key brands as growth was driven by the continuing success of both Nexxus and TRESemme.
At the publication of the quarterly results Marino noted that consumer consumption rates for the two hair care brands in the US increased by double digit rates during the quarter.
Positive quarterly results
Driven by the success of these leading brands and despite the difficult retail environment, sales for the quarter rose by 7.7 per cent to $412.8m.
The company's profits are also on the up after the spin off of its professional beauty supplies company Sally Beauty in late November 2006 - a prior move by the company to streamline its portfolio and concentrate on its consumer brands.
