Unilever has announced the acquisition of the Camay brand globally and the Zest brand outside of North America and the Caribbean from The Procter & Gamble Company (P&G). The brands had a turnover of US$225 million in the last fiscal year. Launched in 1926 and 1955 respectively, Camay and Zest were among the oldest brands in the P&G’s portfolio.
The deal also includes the sale of P&G’s bar soap manufacturing facility in Mexico. The plant employs approximately 170 people who will transfer to Unilever at the completion of the deal.
“We are excited about the acquisition of the Zest and Camay brands. They represent an excellent strategic fit for us and will further strengthen our global position in skin cleansing. The brands will benefit from our innovation and R&D capabilities. They will make us one of the market leaders in skin cleansing in Mexico, a priority market for Unilever and one of the largest markets in the world,” said Alan Jope, President of Unilever Personal Care.
The transaction, for an undisclosed amount, is expected to close during the first half of 2015 subject to necessary regulatory approvals.
