Unilever to Buy U.S. Home and Personal Care Company Seventh Generation
September 19 2016 - 1:09PM
Dow Jones News
By Saabira Chaudhuri
LONDON -- Unilever PLC has agreed to buy a Vermont-based maker
of plant-based detergents and household cleaners, a deal that gives
it a foothold in the fast-growing market for "natural" cleaning
products.
Terms of the deal weren't disclosed.
Privately held Seventh Generation Inc. had sales of more than
$200 million in 2015 and has seen double digit compounded annual
growth over the last 10 years according to Unilever.
The deal comes after The Wall Street Journal recently reported
that Unilever was in early-stage talks to buy Honest Co., the
consumer-products retailer co-founded by actress Jessica Alba that
claims to avoid using harsh chemicals.
That deal would have set Unilever back by over $1 billion,
according to people familiar with the acquisition. The price tag
for Seventh Generation will likely have been smaller given that
Honest generates roughly $300 million in annual revenue.
Unilever said Seventh Generation's products play in the natural
category, selling online and in stores. The company sells diapers
and tampons in addition to detergents and hand soap.
Unilever in July paid $1 billion to acquire Dollar Shave Club, a
premium to the $615 million valuation that company fetched a year
earlier. The fast-growing but unprofitable startup provides a
mail-order service that ships disposable razors for a flat monthly
fee.
Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
(END) Dow Jones Newswires
September 19, 2016 12:54 ET (16:54 GMT)
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