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© Reuters. UNILEVER ACQUIRES CARE PRODUCTS SUNDIAL
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LONDON (Reuters) – (Corrects paragraph 3 to indicate that Sundial is based in New York and not in New Jersey)
Unilever (LON:ULVR) has announced on Monday the acquisition of Sundial Brands, a u.s.-based manufacturer of creams and lotions for body and hair, thus continuing its development on the fast growing market of skincare products.
The giant anglo-Dutch consumer products, owner of the soap Dove and deodorant, Axe, has not revealed the amount of the transaction.
Sundial, a company founded 26 years ago in New York, has the marks of ethnic SheaMoisture, Nubian Heritage and Madam C. J. Walker. Its revenue is expected to approach $ 240 million (€202 million) this year.
Sundial will become a wholly owned subsidiary of Unilever, and will retain its founder and ceo Richelieu Dennis, a native of Liberia.
Unilever, which has rejected this year, an unsolicited bid of 143 billion dollars of Kraft-Heinz, has stepped up acquisitions in recent months, buying the teas, Pukka Herbs and Tazo, cosmetics, Carver Korea and the brazilian brand of organic food Mae Terra.
(Martinne Geller, Véronique Tison for the French service)
