Vestar Capital Partners has completed its $1.45 billion acquisition of the North American laundry business of Unilever Plc/NV, which includes brands like Snuggle, Wisk and Surf. The unit will be renamed Sun Products Corp.
Vestar Capital Partners (“Vestar”), a leading global private equity firm, today announced that it has completed its purchase of the laundry business of Unilever in the United States, Canada and Puerto Rico, which includes the all, Wisk, Sunlight, Surf, and Snuggle brands, for approximately $1.45 billion. In addition, the merger of the acquired Unilever business with Huish Detergents Inc. (“Huish”), majority owned by Vestar since April 2007, has also been completed. The transactions were originally announced on July 28, 2008.
The combined companies will now operate as The Sun Products Corporation (“Sun Products”), with annual sales of more than $2 billion. In addition to the brands acquired from Unilever, Sun Products is a leading manufacturer of detergents, fabric softeners, dish care and personal care products under private label names for major retailers and brand names such as Sun and White Rain.
“The integration of the Huish and Unilever operations has been well planned and is ready to go,” said Neil P. DeFeo, chief executive officer of The Sun Products Corporation. “Our teams are more enthusiastic than ever regarding The Sun Products Corporation. Our new company has one of the most powerful product families in the market. We expect to bring significant new capabilities to both consumers and our customers and expanded career horizons for all of our associates.”
The Sun Products Corporation is headquartered in Fairfield County, Connecticut, with offices in Salt Lake City, Utah, and Toronto, Canada, and manufacturing facilities across the United States.
About Vestar Capital Partners
Vestar Capital Partners is a leading global private equity firm with $7 billion in assets under management. The firm focuses on companies in the U.S., Europe and Japan with valuations of $100 million to $5 billion and operations in five key industry sectors: consumer/services, diversified industries, healthcare, media/communication, and financial services. Since the firm’s founding in 1988, the Vestar funds have completed 65 investments in companies with a total value of more than $20 billion. For more information, please visit www.vestarcapital.com.