Unilever (NYSE: UN, UL) yesterday announced that it had reached a settlement with Procter & Gamble (NYSE: PG) regarding Procter & Gamble’s competitive intelligence operation directed at Unilever’s hair care business in the United States.
Charles B. Strauss, president and CEO of Unilever United States said: “We have a settlement that ensures that our confidential information is protected. With this agreement, we are confident that Procter & Gamble’s conduct will not impede the continued growth of our brands here. This agreement draws to a close what has been an unfortunate incident.”
Terms of the agreement were not disclosed.
Unilever’s hair care brands in the United States include Suave, Finesse, ThermaSilk, Salon Selectives, Rave and Aqua Net.