SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 8, 1995
ALBERTO-CULVER COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-5050 36-2257936
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
2525 Armitage Avenue
Melrose Park, Illinois 60160
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (708) 450-3000
ITEM 5. OTHER EVENTS
On February 8, 1995, the registrant entered into an agreement
whereby its Stockholm-based subsidiary, Cederroth
International AB, will purchase the Toiletries Division of
Molnlycke AB for approximately $50 million. The purchase is
subject to certain contingencies and is expected to close
within two months. A copy of the press release relating to the
purchase is attached hereto and incorporated herein by reference
as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits:
99 Press release dated February 9, 1995
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
ALBERTO-CULVER COMPANY
(Registrant)
By:
William J. Cernugel
Senior Vice President, Finance & Controller
(Principal Financial Officer)
February 9, 1995
FOR IMMEDIATE RELEASE
ALBERTO-CULVER SUBSIDIARY
TO PURCHASE MOLNLYCKE TOILETRIES
(Melrose Park, IL February 9, 1995) The Alberto-Culver
Company (NYSE: ACV, ACVA) has entered into an agreement
providing for the company's 97 percent-owned Stockholm-based
Cederroth International subsidiary to purchase the Swedish-
based Toiletries Division of Molnlycke AB for approximately
$50 million.
Cederroth's 1994 sales were approximately $90 million and the
1994 sales of Molnlycke Toiletries were approximately $85 million.
Howard B. Bernick, President and Chief Executive Officer of
Alberto-Culver commented on the acquisition, saying, "Combining
the strong Molnlycke brands with Cederroth's market-leading consumer
products will make us a very large and powerful consumer
products marketer in the Nordic countries. The companies'
operations are an excellent strategic fit in Norway, Denmark,
Finland and Sweden."
Bernick also pointed out that Goran Havander, the Managing
Director of Cederroth had formerly headed the Molnlycke
Toiletries Division. "Mr. Havander's knowledge of the
Molnlycke people, products and facilities should give us an
important added advantage in combining and building these
businesses," Bernick added.
The Molnlycke Division currently has leading brands in the body
and skin care field, hair care and oral care and household
product categories. Cederroth's core products include
antacids, toiletries, adhesive bandages and food supplements
and two years ago the company successfully relaunched the
Alberto-Culver flagship VO5 hair care products.
"We think we are buying strong brands at a fair price," said
Bernick, "which we can both grow in their current markets --
as we did by substantially increasing the marketing effort
behind the Cederroth products -- and which also have the
potential to be expanded to other markets in Europe and around
the world."
The acquisition also includes a top notch 200,000 square-
foot factory, research facility and distribution center in
Falun, Sweden.
The combined Cederroth-Molnlycke operations will be the
responsibility of Goran Havander reporting to John G. Horsman,
Jr., President of Alberto-Culver International.
The purchase, subject to the satisfaction of certain
contingencies, is scheduled to close within two months.
