Unilever has announced that it is to acquire the Camay brand globally and the Zest brand outside of North America and the Caribbean from The Procter & Gamble Company (P&G).
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, the company said.
The two soap brands together had a turnover of $225 million in the last fiscal year, Unilever reports.
Alan Jope, President of Unilever Personal Care, commented: “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”.
The transaction is expected to close during the first half of 2015 subject to necessary regulatory approvals. Terms of the deal were not disclosed.