UNILEVER BUYS HAZELINE SKIN CARE UNIT FROM GLAXO
NEW YORK — Unilever, the Anglo-Dutch consumer products giant, has acquired the Hazeline skin care and soap business from Glaxo Wellcome PLC for $145.4 million (95 million pounds).
The price is subject to change after a new tally of Hazeline’s net assets.
More than half of Hazeline’s sales are in China, the largest market for its Snow facial moisturizing cream. Hazeline also distributes its products throughout Singapore, Malaysia, Taiwan, Thailand, Hong Kong, Indonesia and Indochina.
In 1994, Hazeline’s operating profits came to 8.9 million pounds on sales of 32.5 million pounds. The company said it expects sales and profits to show a “significant increase” this year.
Unilever, based in London, owns the Pond’s and Vaseline brands of skin care products, as well Elizabeth Arden and Calvin Klein Cosmetics.