CapMan to buy Cederroth from Alberto-Culver
May '08
Pursuant to the terms of a Share Sale and Purchase Agreement, a fund managed by CapMan will purchase all of the outstanding capital stock of Cederroth International AB, a wholly owned subsidiary of Alberto-Culver.
The sale is subject to customary closing conditions, including obtaining certain regulatory approvals and is expected to close this summer.
Alberto-Culver acquired the Cederroth International business in the early 1990's. The Cederroth business, headquartered in Stockholm, Sweden, has been successfully operated as a stand-alone, wholly owned subsidiary of Alberto-Culver.
Cederroth manufactures and markets a diversified group of consumer products in the Nordic region and parts of Europe with only a portion of their brands competing in beauty care categories.
Alberto-Culver's President and Chief Executive Officer, V. James Marino, said, "We are very pleased to have found a strong buyer in CapMan with their Nordic region insight and experience in consumer products.
For Alberto-Culver, this transaction facilitates our ability to focus on growing our core beauty care brands TRESemme, Nexxus, Alberto VO5 and St. Ives."
Further details of the transaction will be provided in a Form 8-K to be filed by Alberto-Culver later this week.
Alberto-Culver Company
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