MELROSE PARK, Ill. — Alberto Culver Co. plans to buy Simple Health & Beauty Ltd., a United Kingdom-based skin care supplier, from private equity fund Duke Street for 240 million pounds ($390 million).
The deal is expected to close by the end of this year, Alberto Culver said Monday. The company noted that Simple is a strong skin care brand — the second-largest on a value share basis in the United Kingdom — and is distributed in mass outlets. Simple Health & Beauty’s estimated sales for 2009 are about 65 million pounds ($105.6 million).
Alberto Culver said that once the transaction is completed, it will become the No. 2 skin care manufacturer in the United Kingdom, its biggest foreign market, complementing its current No. 2 position in hair care.
"Simple is a brand that we have followed for a long time due to its strong, differentiated positioning in the skin care category," James Marino, Alberto Culver president and chief executive officer, said in a statement. "I’ve admired the tremendous job that the management team has done in growing the business, and we’ll continue to leverage Simple’s brand strength to drive future growth.
"This transaction reaffirms our overall focus on beauty care while moving us an important step forward in executing our strategy of expanding and strengthening our skin care portfolio," Marino added.
Alberto Culver manufactures, distributes and markets leading beauty care and other personal care products, including TRESemme, Alberto VO5, Nexxus, St. Ives and Noxzema in the United States and internationally. It is also one of the largest U.S. suppliers of ethnic hair care products, including the Motions and Soft & Beautiful brands.