Unilever to Acquire Seventh Generation, Inc.
September 19 2016 - 12:00PM
Business Wire
Unilever announced today that it has signed an
agreement to acquire Seventh Generation, Inc., the North American
home and personal care products company.
Based in Vermont, Seventh Generation is a pioneer in corporate
responsibility and sustainable product innovations, including
plant-based detergents and household cleaners. The company’s
turnover exceeded US $200m in 2015 and it has seen double digit
compounded annual growth over the last 10 years.
Seventh Generation has a comprehensive product portfolio and a
distribution network covering the ‘natural’ category in grocery,
mass merchandise and e-commerce channels.
Nitin Paranjpe, President of Unilever’s Home Care business said:
“Seventh Generation has long been a disruptor in the US
marketplace, leading the industry in sustainable innovation while
attracting new generations of conscious consumers. 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. 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.”
Seventh Generation CEO John Replogle said: “For 28 years,
Seventh Generation has been creating products that are not only
effective but also designed with environmental and human health in
mind while demonstrating that business can have a greater purpose,
serving not just profit but people and the planet as well. Today
marks the next chapter and we’re proud to join Unilever and its
shared vision for purpose-led business on a global scale. Working
together we are confident 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.”
Terms of the deal were not disclosed. The transaction is subject
to customary regulatory approvals.
About Unilever:
Unilever is one of the world’s leading suppliers of Personal
Care, Food, Home Care and Refreshment products with sales in over
190 countries and reaching 2 billion consumers a day. It has
169,000 employees and generated sales of €53.3 billion in 2015.
Over half (58%) of the company’s footprint is in developing and
emerging markets. Unilever has more than 400 brands found in homes
around the world, including Persil, Dove, Knorr, Domestos,
Hellmann’s, Lipton, Wall’s, PG Tips, Ben & Jerry’s, Marmite,
Magnum and Lynx.
Unilever’s Sustainable Living Plan commits to:
- Helping more than a billion people
take action to improve their health and well-being by
2020.
- Halving the environmental impact of
our products by 2030.
- Enhancing the livelihoods of
millions of people by 2020.
Unilever was ranked number one in its sector in the 2016 Dow
Jones Sustainability Index. In the FTSE4Good Index, it achieved the
highest environmental score of 5. It led the list of Global
Corporate Sustainability Leaders in the 2016
GlobeScan/SustainAbility annual survey for the sixth year running.
Unilever was ranked the most sustainable food and beverage company
in Oxfam’s Behind the Brands Scorecard in 2016 for the second
year.
For more information about Unilever and its brands, please visit
www.unilever.com. For more information on the USLP:
www.unilever.com/sustainable-living/
About Seventh Generation
Established in 1988, in Burlington, Vermont, Seventh Generation
is one of the leading US brands of household and personal care
products. The company lives its commitment of "caring today for
seven generations of tomorrows," with products formulated to
provide mindful solutions for the air, surfaces, fabrics, pets and
people within your home -- and for the community and environment
outside of it. A pioneer in corporate responsibility, Seventh
Generation continually improves ways to reduce its environmental
impact, increase performance and safety, and create a more
sustainable supply chain. To learn more about Seventh Generation
products and business practices, locate a retailer in your area, or
review Seventh Generation's Corporate Consciousness Report, visit
www.seventhgeneration.com.
Safe Harbour:
This announcement may contain forward-looking statements,
including 'forward-looking statements' within the meaning of the
United States Private Securities Litigation Reform Act of 1995.
Words such as 'will', 'aim', 'expects', 'anticipates', 'intends',
'looks', 'believes', 'vision', or the negative of these terms and
other similar expressions of future performance or results, and
their negatives, are intended to identify such forward-looking
statements. These forward-looking statements are based upon current
expectations and assumptions regarding anticipated developments and
other factors affecting the Unilever group (the "Group"). They are
not historical facts, nor are they guarantees of future
performance.
Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause actual
results to differ materially from those expressed or implied by
these forward-looking statements. Among other risks and
uncertainties, the material or principal factors which could cause
actual results to differ materially are: Unilever's global brands
not meeting consumer preferences; Unilever's ability to innovate
and remain competitive; Unilever's investment choices in its
portfolio management; inability to find sustainable solutions to
support long-term growth; customer relationships; the recruitment
and retention of talented employees; disruptions in our supply
chain; the cost of raw materials and commodities; the production of
safe and high quality products; secure and reliable IT
infrastructure; successful execution of acquisitions, divestitures
and business transformation projects; economic and political risks
and natural disasters; financial risks; failure to meet high
ethical standards; and failure to comply with laws and regulations,
including tax laws. These forward-looking statements speak only as
of the date of this announcement. Except as required by any
applicable law or regulation, the Group expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Group's expectations with regard thereto
or any change in events, conditions or circumstances on which any
such statement is based. Further details of potential risks and
uncertainties affecting the Group are described in the Group's
filings with the London Stock Exchange, Euronext Amsterdam and the
US Securities and Exchange Commission, including in the Group's
Annual Report on Form 20-F for the year ended 31 December 2015 and
the Annual Report and Accounts 2015.
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version on businesswire.com: http://www.businesswire.com/news/home/20160919006090/en/
Media EnquiriesUnilever:Merlin Koene, +44 7342
068784merlin.koene@unilever.comorJoelle Hutcheon, +1 201 894
7760joelle.hutcheon@unilever.comorSeventh Generation:Brandi Thomas,
+1 802 540 3760bst@seventhgeneration.com
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