BMI Sees Unilever's Focus On Both Food And Personal Care As Positive For Expansion In EM

Anglo-Dutch consumer goods giant Unilever is to purchase US-based consumer goods group Alberto Culver for US$3.7bn. The move will add a range of personal care products to the firm's portfolio, including VO5, TRESemmeé, St. Ives and Simple, and is a strong signal of its commitment to the personal care category. An analysis of Unilever's valuation suggests that its wide-ranging product portfolio may have put off some investors, who see limited synergies between its food, personal care and homecare businesses. However, we are of the view that this scope puts Unilever in a particularly strong position to expand in emerging markets

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