Unilever must sell two brands to seal Alberto deal

WASHINGTON, May 7 (Reuters): Unilever Group agreed to sell off the Alberto VO5 brand in the United States and to fully shed its own Rave hair products brand in order to wrap up its purchase of Alberto Culver Co. The agreement with the US Justice Department, announced Friday, lets Anglo-Dutch Unilever finally move forward with its roughly $3.7 billion purchase of Alberto Culver, which was approved by the US company's shareholders in December. It marks the end of the independent Alberto Culver company, which got its start back in 1955 when Leonard Lavin bought Hollywood hairstyling product Alberto VO5 for $400,000 and which expanded into a nearly $1.6 billion seller of everything from shampoo to Static Guard.