Harmony sold to Jatania vehicle

CONSUMER PRODUCTS group Unilever has sold its Harmony hairspray brand to EMVI, a newly formed investment vehicle owned by the Jatania family, for a price believed to be less than pounds 25m. Other backers include Alchemy, the private equity group.

Chief executive Mike Jatania is eyeing other brands in an attempt to build a personal products group which could be floated in a few years time. Harmony is the number three brand in the UK but has little market presence outside Britain and Ireland.