Unilever has announced that it is to acquire Sundial Brands for an undisclosed sum.
The US skin and hair care manufacturer produces products aimed at the African-American market and is expected to generate US$240 million in sales this year. The company will operate as a standalone unit within Unilever, with founder Richelieu Dennis continuing in his role as CEO and Executive Chairman.
“The Sundial team has built differentiated and on-trend premium brands serving multicultural and millennial consumers that enhance our existing portfolio,” said Kees Kruythoff, President, Unilever North America. “Sundial is an important addition to our US portfolio of purpose-driven companies, which includes Ben & Jerry’s and Seventh Generation.”
“We are excited to partner with Richelieu and his team to enable Sundial to bring its unique product offerings and community impact to more people around the world,” said Alan Jope, President, Unilever Personal Care.