Alberto Culver announces double-digit gains in Q4 sales
MELROSE PARK, Ill. Alberto Culver, which in September entered into an agreement to be acquired by Unilever, announced on Monday double-digit gains in its fourth-quarter sales, as net income rose to $41.3 million.
Net sales for the quarter ended Sept. 30 rose 12.1% to $431.9 million. On an organic basis, sales rose 4.9% during the quarter. Net income totaled $41.3 million, or 41 cents per share, compared with $31.7 million, or 32 cents per share, in the year-ago period.
In the United States, sales rose 3.5% during the quarter due to growth in TRESemme and Nexxus hair care brands, according to the company. International sales rose 26.7%, with Latin America and Canada being particularly strong.
As previously reported by Drug Store News, the company has entered an agreement to be acquired by Unilever, which will acquire all of the outstanding shares of Alberto Culver for $37.50 per share in cash, valuing the company at roughly $3.7 billion. The transaction is structured as a merger and is subject to approval by owners holding a majority of Alberto Culver’s outstanding common stock, regulatory approvals and other customary closing conditions.