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P&G to retain Noxzema business in Western Europe.
September 8, 2008
By: TOM BRANNA
Editor
Alberto-Culver Company (NYSE: ACV – News) today announced that it had signed an agreement to acquire the worldwide rights and trademarks to the Noxzema skin care brand from The Procter & Gamble Company. A purchase price was not disclosed. The agreement includes the existing business in the United States, Canada and portions of Latin America. Procter & Gamble will continue to operate its existing Noxzema shave care, antiperspirant/deodorant, body wash and body soap business in portions of Western Europe. The transaction is subject to customary closing conditions, including obtaining certain regulatory approvals. Commenting on the agreement, Alberto-Culver president and chief executive officer V. James Marino said, “Noxzema is an iconic U.S. skin care brand and our team is very excited to add Noxzema to our beauty care product portfolio. The Noxzema brand has great equity among consumers and, together with our existing St. Ives skin care brand, will provide us with significant opportunities for growth in the skin care category.”
Carol Lavin Bernick, executive chairman of the company, stated, “With the pending acquisition of Noxzema, the board reaffirms our commitment and focus on skin care. Noxzema is a brand with strong potential for our existing portfolio.”
Alberto-Culver Company manufactures, distributes and markets leading beauty care products including TRESemme, Alberto VO5, Nexxus and St. Ives in the United States and internationally. Several of its household/grocery products such as Mrs. Dash and Static Guard are niche category leaders in the U.S. It is also the second largest producer in the world of products for the ethnic hair care market with leading brands including Motions and Soft & Beautiful.
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