11.17.10
Unilever has received clearance from the European Commission for its acquisition of the personal care and European laundry business of the Sara Lee Corporation. Unilever will complete the transaction in 2010, "significantly strengthening both regional and local positions in personal care by adding brands including Radox, Duschdas and Neutral," the company said in a press statement released this morning.
Approval of the transaction follows the satisfactory completion of a detailed review by the European Commission, during which Unilever has undertaken to divest the Sanex brand in the European market.
The $1.88 billion deal was announced earlier this Fall.
Approval of the transaction follows the satisfactory completion of a detailed review by the European Commission, during which Unilever has undertaken to divest the Sanex brand in the European market.
According to Unilever, the acquisition complements its existing portfolio of brands such as Axe, Dove and Rexona. With this extended range, the business can cover a wider spectrum of price points and better meet the demands of more consumers in more markets, and as a result, Unilever expects to stimulate further growth in an intensely competitive market.
"We are pleased to have received the green light from the European Commission for this deal and we look forward to adding these important brands to our business. Home and personal care is a key growth category and we are acquiring a number of leading brands that fill gaps in our portfolio, improve the shape of our overall European portfolio, while offering significant potential for development in other geographies,” said Doug Baillie, president of Western Europe at Unilever.
In addition to Radox, Duschdas and Neutral, the deal includes local category leaders such as Biotex in laundry, Zwitsal and Fissan in baby care and Prodent and Zendium in oral care.