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Unilever £1.2bn buy from Sara Lee
25.09.09
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.
