Alberto Culver grows U.K. skin-care portfolio
This article was originally published in The Tan Sheet
Executive Summary
Keeping with its strategy to grow the skin-care side of its business, the Melrose Park, Ill.-based firm acquires No. 2 U.K. skin-care brand Simple Health & Beauty Ltd. from private equity firm Duke Street. In the £240 million ($392 million) "substantially" cash deal announced Dec. 14, Alberto Culver gains Simple Health & Beauty's portfolio of more than 140 skin- and personal-care products. Morningstar analyst Lauren DeSanto wrote in a same-day note the price Alberto paid for Simple "is not outside the range for high-quality brands, particularly in skin care," adding with Alberto's strong U.K. hair-care presence "it's not surprising that the firm would look to build on this position into another category." Alberto Culver, which already markets St. Ives and Noxzema skin-care products, reported sales of $1.43 billion and profit of $119.4 million for its fiscal 2009
You may also be interested in...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.