Unilever sells off ethnic hair care brand
There has been suggestions that Unilever, along with similar consumer good firm Procter & Gamble, would have to divest some of its business to focus on its core brands if it is to compete in the personal care arena.
Perhaps with this in mind, the Dove skin care maker has announced that it has signed an agreement for the sale of its Soft & Beautiful, TCB and Pro-Line Comb-Thru brands to Strength of Nature for an undisclosed amount.
The sale also excludes TCB's business in Africa.
Fast-growing
"Soft & Beautiful, TCB and Pro-Line Comb-Thru are each terrific brands with a long legacy in the ethnic hair care category,” says Kees Kruythoff, president of Unilever North America.
“These brands are part of one of the fastest growing categories in the personal care sector and we believe their potential can now be more fully realised with Strength of Nature."
Strength of Nature is one of the fastest growing companies in the multi-cultural hair care category, driven by its commitment to consumer understanding and innovation.
The company markets a number of leading brands including Profectiv MegaGrowth, African Pride, Dream Kids, Beautiful Textures and Elasta QP.
Expansion
"We are extremely pleased to add these great brands to our expanding portfolio,” adds Mario de la Guardia, Strength of Nature CEO. “Soft & Beautiful, Soft & Beautiful Botanicals, TCB and Pro-Line Comb-Thru are brands with strong consumer following, high awareness and a long tradition of serving their consumers.”
“We are excited about their potential, and strongly believe they each provide an excellent foundation for expanded innovation and product improvement."
The transaction is expected to close in early December.
