Unilever today announced that it has made a binding offer to acquire the personal care business of the Sara Lee Corporation for 1.275 billion euros in cash (1.83 billion dollars).

“Personal Care is a strategic category and a key growth driver for Unilever. This transaction builds on our portfolio in Western Europe and also in Asia. The Sara Lee brands enjoy strong consumer recognition, offer significant growth potential and are an excellent fit with Unilever’s existing business,” commented Paul Polman, CEO of Unilever.

Through this transaction, Unilever aims at strengthening its category leadership in skin cleansing and deodorants. Concerning Sara Lee, the group intends to concentrate on its core food and beverage businesses.