The Alberto-Culver Company has reached an agreement to sell its Cederroth International business to CapMan, a Nordic-based private equity firm. Pursuant to the terms of a share sale and purchase agreement, a fund managed by CapMan will purchase all of the outstanding capital stock of Cederroth International AB, a wholly owned subsidiary of Alberto-Culver.
Alberto-Culver acquired the Cederroth International business in the early 1990s. The Cederroth business, headquartered in Sweden, has been operated as a stand-alone, wholly owned subsidiary of Alberto-Culver, manufacturing and marketing a group of consumer products in the Nordic region and parts of Europe (including brands in beauty care categories).
"We are very pleased to have found a strong buyer in CapMan with its Nordic region insight and experience in consumer products," said V. James Marino, president and CEO, Alberto-Culver. "For Alberto-Culver, this transaction facilitates our ability to focus on growing our core beauty care brands TRESemme, Nexxus, Alberto VO5 and St. Ives."