In Brief: Alberto-Culver
This article was originally published in The Tan Sheet
Executive Summary
Alberto-Culver: Acquires Swiss Formula skin and hair care and private label manufacturer St. Ives for $120 mil., or $15 per share. Alberto has an option to buy the shares of St. Ives founder, Chairman and CEO Gary Worth and his family -- representing about one-third of the 7.03 mil. shares outstanding -- also for $15 a share. The firm expects the deal to close in January. Alberto is planning to fold St. Ives into its business and says it will retain a "good number" of St. Ives' sales and marketing personnel...