MELROSE PARK, Ill. Alberto-Culver, whose brands include TRESemme, Nexxus and Alberto VO5, has reached an agreement to sell Cederroth International, a Swedish business that manufacturers consumers products in the Nordic region and parts of Europe, to private equity firm CapMan.
Under the agreement, a fund managed by CapMan will purchase all of the outstanding capital stock of Cederroth International AB. The sale, which is subject to regulatory approval, is expected to close during the summer.
“We are very pleased to have found a strong buyer in CapMan with their Nordic region insight and experience in consumer products. For Alberto-Culver, this transaction facilitates our ability to focus on growing our core beauty care brands TRESemme, Nexxus, Alberto VO5 and St. Ives,” stated Alberto-Culver president and chief executive officer V. James Marino.
Alberto-Culver acquired Cederroth International, based in Stockholm, Sweden, in the early 1990s.