In early 2009, Unilever announced that it has signed an agreement to acquire the global TIGI professional hair product business and its supporting advanced education academies for a cash consideration of $411.5 million. The deal is now complete and on time with expectations.

Upon completion of the transaction, TIGI will operate as a stand-alone Global Business Unit within Unilever, reporting to Michael B. Polk, president, Unilever Americas.

TIGI’s major brands include Bed Head, Catwalk and S-Factor. TIGI has operations in the U.S., UK, Italy, Germany and Australia, employs about 550 people and in 2008, had worldwide sales of approximately $250 million, with almost half coming from the United States.