New York – June 19, 2006 – LAWFUEL – Press Release Service – Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice, Inc. (CD&R) in its definitive agreement with Alberto-Culver Company for a CD&R-managed fund to make an investment for a 47.5% equity interest in Sally Beauty Company (Sally). CD&R will invest $575 million from a fund the firm manages for its equity stake. The transaction value is approximately $3 billion. The transaction is expected to be completed in the fourth quarter of 2006 and is subject to the approval of Alberto-Culver shareholders as well as regulatory approvals.
Clayton, Dubilier & Rice, Inc. is one of the most experienced and successful private-equity investment firms in the world. Alberto-Culver’s beauty supplies distribution business is the world’s number one marketer of professional beauty care products through its chain of domestic and international Sally stores. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team was led by partner Paul S. Bird and included partners David A. Brittenham, David P. Mason and David H. Schnabel and associates Yoeli Barag, Meir D. Katz, Vadim Mahmoudov and Nicole A. Perez.