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Alberto-Culver Announces Agreement to Acquire Noxzema Skin Care Brand
Posted: September 17, 2008Alberto-Culver Company announced that it had signed an agreement to acquire the worldwide rights and trademarks to the Noxzema skin care brand from The Procter & Gamble Company. The agreement includes the existing business in the United States, Canada and portions of Latin America. Procter & Gamble will continue to operate its existing Noxzema shave care, antiperspirant/deodorant, body wash and body soap business in portions of Western Europe. The transaction is subject to customary closing conditions, including obtaining certain regulatory approvals.
"Noxzema is an iconic U.S. skin care brand and our team is very excited to add Noxzema to our beauty care product portfolio," said V. James Marino, president and CEO, Alberto-Culver. "The Noxzema brand has great equity among consumers and, together with our existing St. Ives skin care brand, will provide us with significant opportunities for growth in the skin care category."
"With the pending acquisition of Noxzema, the board reaffirms our commitment and focus on skin care. Noxzema is a brand with strong potential for our existing portfolio," said Carol Lavin Bernick, executive chairman, Alberto-Culver.