Unilever agrees Alberto Culver takeover deal

Unilever has signed an agreement to purchase fellow healthcare and personal care company Alberto Culver in order to expand the reach of its business.

The firm has agreed to pay $3.7 billion (2.3 billion pounds) in cash for control of Alberto Culver, which is responsible for leading household brands such as Vaseline, Dove, St Ives and TRESemme.

Alberto Culver currently employs 2,700 people and operates in nine countries, generating sales totalling more than $1.6 billion during the 12 months ending June 30th 2010.

Unilever stated that it expects the deal to enhance its status as a high-growth enterprise and augment its portfolio of attractive brands, while also utilising its resources to advance the products to a new level of success.

Paul Polman, chief executive officer of Unilever, added: "Organic growth remains the cornerstone of our energising ambition to double the size of Unilever whilst reducing our overall environmental impact."

Earlier this month, the company agreed a new partnership with Ampere Life Sciences, which will see it utilise Ampere's Digital Biology technology platform in innovative consumer products.