Unilever announced today that it has sold its Finesse hair care brand in the US and Canada, and its Aqua Net brand in the US, to Lornamead Brands Inc.
The brands generated $85 million in combined revenue for 2005. The financial terms of the transaction were not disclosed.
"This agreement takes us a step further in reshaping our hair care portfolio of brands in North America," stated John Rice, President of Unilever Americas. "It will enable us to focus on bringing innovation to market through our strong local and global brands."