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In Brief: Alberto-Culver

This article was originally published in The Rose Sheet

Executive Summary

Alberto-Culver: Divestiture of Alberto's institutional food service business "will have an immaterial effect on the company's reported earnings," the firm said Aug. 1. The company is selling its Milani, Smithers, Diafoods and Thick-It institutional food service brands to St. Louis, Mo.-based Grain Processing Corporation subsidiary Precision Foods, Inc. The divested brands had combined annual sales of $15 mil., Alberto said, adding that the sale does not affect the company's retail grocery brands: Mrs. Dash, Molly McButter, SugarTwin and Baker's Joy. The divestiture will allow the company to focus on its "area of expertise: the retail consumer packaged goods market," the firm explained...
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