USA: Unilever acquires Seventh Generation
FMCG giant Unilever has announced that it has agreed to acquire Seventh Generation, a US-based producer of natural household and personal care goods.
Seventh Generation is a manufacturer of plant-based household products including soaps, detergents and baby toiletries, and reported turnover of $200 million in 2015.
Commenting on the news, Unilever North America president Kees Kruythoff said: “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. Adding Seventh Generation to Unilever’s portfolio of purpose-driven brands like Ben & Jerry’s and Dove demonstrates our continued commitment to the Unilever Sustainable Living Plan”.
Financial details were not disclosed, although a source quoted by Fortune placed the value of the deal at between $600 million and $700 million.
Earlier this month it was reported that Unilever was in talks with The Honest Co, a rival of Seventh Generation, regarding a possible acquisition, although this was not substantiated by the company.
Source: Unilever / Fortune