USA: Unilever to acquire Living Proof haircare
FMCG giant Unilever has announced that it has signed an agreement to acquire haircare specialist Living Proof for an undisclosed sum.
Describing Living Proof as an "innovative premium hair care business renowned for solving hair problems through the use of breakthrough science", Unilever said that the firm would be added to its own Prestige portfolio, which includes brands such as Dermalogica, Kate Somerville, Murad and REN.
Living Proof is described as having been conceived by venture capitalist and entrepreneur Jon Flint to bring advanced bio-medical technology to the beauty industry. The firm's portfolio of hair products - including shampoos and conditioners as well as treatments and styling products "enable[s] people to get visibly healthier hair, fight frizz, build volume and address a number of other hair care challenges", according to Unilever.
Commenting on the deal, Unilever president Personal Care Alan Jope said: "We are delighted to be adding Living Proof to our portfolio of Prestige brands. The Prestige Hair retail market is very attractive and offers significant potential for growth. Through compelling product result demonstrations and influencer driven marketing, Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand".
Source: Unilever / Living Proof