Unilever announced on Monday 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 US$411.5 million.

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

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.