Unilever has signed an agreement to acquire the global Tigi professional hair product business and its education academies for a cash consideration of $411.5 million. “It illustrates our determination to actively manage our portfolio in line with our stated strategic priorities, including a focus on personal care and higher growth areas,” says Vindi Banga, Unilever president, Foods, Home & Personal Care. Banga says adding the salon brands will further build its position in the hair category, priming it for geographical expansion. Tigi’s major brands include Bed Head, Catwalk and S-Factor. Tigi has operations in the U.S., UK, Italy, Germany and Australia, and in 2008, had worldwide sales of approximately $250 million, with almost half coming from the U.S. The deal is scheduled for completion by the end of March.