Consumer goods giant Unilever has announced that it completed its acquisition of US personal care company Sundial Brands.
The deal, which was first announced last month, will see Unilever expand its offering of hair and skin care products aimed at black women, with brands such as SheaMoisture, Nubian Heritage, Madam C.J. Walker and Kyakio.
Portfolio Expansion
“Sundial is an important addition to our US portfolio of purpose-driven companies," said Kees Kruythoff, president of Unilever North America.
“The Sundial team has built differentiated and on-trend premium brands serving multicultural and millennial consumers that enhance our existing portfolio.”
Terms of the transaction were not disclosed, but Unilever says that Sundial Brands expects revenue of around $240 million in 2017.
Unilever has been continuing to expand its personal care unit in 2017, including the purchase of deodorant brand Schmidt's Naturals, which was announced last week, and its €2.27 billion acquisition of cosmetics company Carver Korea.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
