Alberto-Culver Co., which makes beauty-care products, said Monday it agreed to sell its Cederroth International business to CapMan, a private-equity firm.
The company said a fund managed by CapMan will buy all the outstanding shares of the Alberto-Culver subsidiary. The financial terms of the deal were not disclosed.
Sweden-based Cederroth manufactures and markets consumer products in the Nordic region and in parts of Europe.
Alberto-Culver said the sale will allow it to focus on its core beauty brands, including TRESemme, Nexxus, Alberto VO5 and St. Ives.
The deal is expected to close this summer.
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