Alberto Culver acquired the UK brand from private equity fund Duke Street for £240m. The deal is expected to close by the end of this year.
A spokesperson for Simple says the deal will have no effect on business operations adding: “It’s business as usual, everyone’s contracts remain in place, Simple is just owned by different people.”
Alberto Culver says the company will “continue to leverage Simple’s brand strength to drive future growth.”
Carol Lavin Bernick, executive chairman of Alberto Culver says: “It reaffirms our focus on beauty care and provides us with a terrific opportunity to execute our strategy of expanding and growing our skin care portfolio.”
Alberto Culver Company manufactures, distributes and markets beauty care and hair care brands including TRESemme, Alberto VO5, Nexxus, St. Ives and Noxzema as well as ethnic hair brands including Motions and Soft & Beautiful and home care brands Mrs. Dash and Static Guard in the US.
Simple is launching two television campaigns in the New Year and entering new categories.