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In Brief: Alberto/St. Ives buy

This article was originally published in The Rose Sheet

Executive Summary

Alberto/St. Ives buy: Alberto-Culver completes its acquisition of St. Ives Labs for $120 mil. in cash, or $15 a share, Feb. 6. The purchase, which was announced Oct. 31 ("The Rose Sheet" Nov. 6, p. 1), bolsters Alberto's sales by about 12% -- Alberto posted net sales of $1.35 bil. in FY 1995 (ended Sept. 30), while St. Ives revenues totalled $160 mil. in 1995. The acquisition adds St. Ives Swiss Formula skin and hair care brands to Alberto's hair care line-up, which includes the Alberto VO5 franchise and the TRESemme brand. Alberto projected that the merger would be non-dilutive to the firm's 1996 earnings and accretive to earnings in following years...
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