Unilever has announced that it has signed an agreement to acquire the personal care and home brands of Quala.
The Latin American consumer goods company’s products include leading local brands Savital/Savilé (Haircare and Skin Cleansing), eGo (Male Haircare and Styling), Bio-Expert (Haircare), Fortident (Oral Care) and Aromatel (Fabric Conditioners); with a combined turnover of over USD 400 million in 2016.
Paul Polman, CEO Unilever, said of the deal, “We are delighted to be acquiring Quala’s personal care and home care portfolio. Quala has done an outstanding job of building strong and competitive local brands.
“The inclusion of these brands in our stable will consolidate our leading position in Haircare globally, and contribute to our Oral Care and Male Grooming businesses, complementing very well our existing offering.”
Commenting on the transaction, Michael De Rhodes, Chairman, Quala, said, “Following a strategic review, we have decided to focus our efforts and resources on accelerating growth on our core business.
“As a result of this transaction, Quala intends to increase its investment in innovation, continue broadening our product and brand portfolio, and maintaining our leadership positions in the region.”
Quala’s Savital/Savilé is the number one brand in haircare by volume in Colombia. eGo is also the number one male hair grooming brand in Colombia and Mexico, with 85% of its turnover coming from styling, Unilever reports.
Polman added, “The acquisition of Quala’s personal care and homecare business reinforces Unilever’s commitment to our long-term model of compounding growth and sustainable value creation.
“The active management of the portfolio through bolt-on acquisitions such as this one, and the sustained investment in our existing brands, will help us deliver continued growth ahead of our markets”.
Unilever last week announced a joint venture with the Europe and Asia Commercial Company (EAC) to build on its current operations in Myanmar.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O'Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.