Marketing In Brief
This article was originally published in The Rose Sheet
Executive Summary
Nexxus acquisition: Alberto-Culver will acquire the Nexxus Products Company, firm announces May 9, noting it has signed an agreement in principle to purchase substantially all of the assets of the firm related to Nexxus brand hair care products. The acquisition, which is expected to close within 15 days, is not anticipated to have a material impact on the company's short term sales and earnings, firm says. Alberto plans to grow Nexxus brand "substantially" in the future with expanded marketing initiatives and increased human, strategic and financial resources, CEO Howard Bernick reports during a Goldman Sachs Consumer Products Symposium May 11. "I am more excited about the acquisition of Nexxus than any other transaction that we've made since I joined the company 28 years ago," Bernick adds. Net sales for Nexxus Products Company reached approximately $40 mil. in 2004, according to Alberto...