Weather Morning: 9°c Sunny spells Afternoon: 10°c Sunny spells

Business

Unilever £1.2bn buy from Sara Lee

25 Sep 2009


Unilever, the Dove soaps and Vaseline maker, today added Brylcreem and Radox bubble bath to its stable of brands in a £1.2 billion takeover of Sara Lee's personal care business.

The move cements the British giant's global number one position in the soaps and deodorants industry. The first takeover for new chief executive Paul Polman, the deal particularly enhances Unilever's market share in Western Europe, where Sara Lee's operations are strongest.

Polman said the Sanex, Radox and Duschdas brands would complement Unilever's own more upmarket Dove, Axe and Rexona ranges in the UK and on the Continent.

Sara Lee has been selling a host of divisions to focus on food and drink. Chief executive Brenda Barnes tonight said she had received significant interest in its household brands such as Ambi Pur air fresheners, Kiwi shoe polish and Vapona insecticides.

The price Unilever is paying represents 10 times the business' core operating profit.

It is Unilever's biggest takeover since it bought Slim Fast and Ben & Jerry's ice cream for $2.6 billion in 2006.

Reader views (0)

 Add your view

No comments have so far been submitted.


Add your comment

 

Terms and conditions Make text area bigger You have  characters left.

We welcome your opinions. This is a public forum. Libellous and abusive comments are not allowed. Please read our House Rules.

For information about privacy and cookies please read our Privacy Policy.


 

 

  • Slump looms in eurozone as economy takes a dive Euro Europe's lingering debt crisis has pushed the eurozone closer to recession as the beleaguered single currency bloc's economy shrank for the...
  • Sports Direct scores with profits boost and strong online sales Mike Ashley The UK's biggest sporting goods retailer, Sports Direct International, has said third-quarter profits rose 10% on strong online sales
  • Bank may turn off printing presses as inflation drops Mervyn King The Bank of England's latest £50 billion burst of quantitative easing may be the last time it needs to resort to the printing presses
  • Online orders on mobiles lift Domino's pizza Domino's Pizza UK said its online sales have powered ahead to account for more than half of delivered sales
  • Thorntons profits slump Thorntons Chocolatier Thorntons posted a lower first-half profit as it needed to discount heavily and spent more on promotional lines to attract...
  • Heineken to begin £657m cost cutting Beer Heineken, the world's third-largest brewer, has launched a €500 million euro ($657 million) cost savings plan, and forecast revenue growth...
  • French banks face battering on exposure to Greek debt French banks look set to take one of the biggest haircuts on Greek debt as the country's largest, BNP Paribas, has said it had raised its provisions on Greek sovereign bonds to 75%
  • Morgan Crucible results surge on emerging market growth Morgan Crucible reported highest-ever full-year results, helped by strong performance across both its divisions, and reiterated that 2012 growth would be driven by new products and emerging markets
  • Hotel giant goes for Olympic gold as profits wow the City Intercontinental Hotels Hotelier InterContinental Hotels is looking to emerging markets and especially China to drive future growth
  • Yell dives as print blow outstrips digital leap Yell Beleaguered Yellow Pages directories publisher Yell has seen its shares plunge as much as a quarter after a worse-than-expected slump in...
  •  
    Market Roundup
    TUESDAY UPDATE

    Valentine's massacre as City dumps Hampson

    No one likes getting rejected on Valentine's Day

    More