The deal is in response to the European Commission’s requirement that Unilever divest the Sanex brand in the European Economic Area (EEA). Sanex is a premium-priced multi-category personal care brand with a distinct positioning around healthy skin and had net sales of €187 million in 2010, primarily in Western Europe. Liquid body cleansing and deodorants each represent nearly 50% of the business. Unilever acquired Sanex from Sara Lee in 2009.
Michael Polk, Unilever’s President Categories, said: "We are pleased to be divesting Sanex in what we consider to be a very attractive deal for Unilever…Our focus is on bolt-on acquisitions that can strengthen our existing portfolio and geographic presence, and help Unilever move closer to achieving our overall ambition of doubling the size of the business."
The transaction include the trademark, intellectual property and formulations but do not include any manufacturing facilities.