Conglomerate buys natural personal care brand for a rumoured $700m
Unilever has agreed a deal to buy Seventh Generation, a plant-based cleaning and personal care products brand.
The purchase comes shortly after rumours circulated that Unilever was due to buy The Honest Company. This now looks unlikely to go ahead.
Today marks the next chapter and we’re proud to join Unilever and its shared vision for purpose-led business on a global sale." — John Replogle, CEO at Seventh Generation
The terms of the deal have not been disclosed but The Wall Street Journal reported that Unilever has agreed to pay $700m for Seventh Generation.
Seventh Generation produces hand soaps and baby care products, as well as a range of detergents and feminine care products. The company reported sales of more than $200m last year.
The company was founded in 1988 and is named after its promise to care “today for seven generations of tomorrows”. John Replogle, CEO at Seventh Generation, said that purchase would help the brand spread its message further.
Replogle said: “Today marks the next chapter and we’re proud to join Unilever and its shared vision for purpose-led business on a global sale. Working together, we are confident that we can have a positive impact on the health of billions of people around the world, truly fulfilling our mission of nurturing the next seven generations while transforming global commerce.”
Nitin Paranjpe, President of Unilever’s Home Care business, said that Seventh Generation was a “disrupter” in the marketplace. He said: “This addition to Unilever’s product portfolio will help us meet rising demand for high quality products with a purpose.”
Kees Kruythoff, President of Unilever North America, added: “We’re thrilled to add Seventh Generation to our brand portfolio, providing us with the opportunity to accelerate growth with our retail partners and connect in new ways with consumers.”