This move comes after P&G’s announcement that it will shed up to 100 brands around the glove over the next two years. CEO AG Lafley said the strategy would create a “more streamlined” P&G “that will continue to grow faster and more sustainably, reliably create more value”.
The brands together had a turnover of $225m in the last fiscal year. The transaction, for an undisclosed amount, is expected to close during the first half of 2015 subject to necessary regulatory approvals. In terms of the 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 Zest and Camay,” aid Alan Pope, president of Unilever Personal Care. “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.” Indeed, according to the government, “demand for personal care products in Mexico has steadily increased over the past decade due to the rise of the purchasing power of Mexican consumers and to an increased access to different types of credit that have allowed Mexicans access to better quality products and have increased the demand.” Mexico is one of the biggest markets for personal care products in Latin America. And Mexican Chamber of the Cosmetics Industry statistics suggest that the market is extremely competitive as most of the largest international brands compete for market share With the biggest segment in personal care being hair care, followed closely by skin care, Unilever is looking to push its rivals aside. Image sourceBy Shané Schutte
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.