• CNNMoney, [London] Times, Friday, September 25, 2009 10:30 AM

Unilever is buying the personal care division of Sara Lee for €1.3 billion ($1.9 billion), delivering it brands such as Radox and Brylcreem. The Anglo-Dutch consumer goods company says the products will complement its more upmarket brands, including Dove and Rexona, Marcus Leroux writes in the Times. It also hopes to expand the newly obtained brands in developing and emerging markets, which now comprise about 15% of its annual sales, according to CNNMoney's Julianne Pepitone.

"Personal care is a strategic category and a key growth driver for Unilever," according to a statement by Unilever CEO Paul Polman. "The Sara Lee brands enjoy strong consumer recognition, offer significant growth potential and are an excellent fit."

Writes Credit Suisse analyst Charlie Mills: "We're not convinced that this is the greatest collection of assets but another acquisition shows Unilever still moving from the back foot (cost cutting, disposals) to the front foot (volume growth, acquisitions)." Sara Lee says the sale should be completed in 2010.

Read the whole story at CNNMoney, [London] Times »