The Anglo-Dutch consumer giant takes steps to cater for multicultural millennials
Unilever has announced it is to acquire Sundial Brands, the maker of brands including SheaMoisture, Nubian Heritage, Madam C.J. Walker Beauty Culture and nyakio.
The deal will see Unilever take strides forward in the multicultural sector, with several of Sundial’s brands catering for black and ethnic minority consumers.
Sundial’s 2017 turnover is expected to be approximately US$240m.
Kees Kruythoff, President, Unilever North America, said: “The Sundial team has built differentiated and on-trend premium brands serving multicultural and millennial consumers that enhance our existing portfolio.
“Sundial is an important addition to our U.S. portfolio of purpose-driven companies, which includes Ben & Jerry’s and Seventh Generation.”
Sundial’s founder Richelieu Dennis will continue as part of the team as CEO and Executive Chairman.
Unilever has appointed Esi Eggleston Bracey, who is considered an expert in driving cultural relevancy in brand building, as EVP & COO of Unilever North America Personal Care from January 2018.
Bracey will work with Dennis to accelerate growth and consumer connectivity of Sundial Brands.
As part of the deal, Unilever and Sundial will create the New Voices Fund to support women of colour entrepreneurs, with an initial investment of $50m.