Unilever To Acquire Sundial Brands(shea Moisture) Of Amityville

[MilkChocolateOne]

https://www.reuters.com/article/us-...-distance-with-highway-charging-idUSKBN1DR00G



Unilever to buy U.S. bodycare products company Sundial Brands

Reuters Staff

2 MIN READ


LONDON (Reuters) - Anglo-Dutch consumer goods giant Unilever (ULVR.L) (UNc.AS) is to buy U.S.-based company Sundial Brands, a maker of hair and skincare products, expanding deeper into the fast-growing personal care products market.


FILE PHOTO: The company logo for Unilever is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 17, 2017. REUTERS/Brendan McDermid/File Photo
The maker of Dove soap and Axe body spray announced the deal on Monday, without disclosing financial terms.

Sundial, a 26-year-old company based in New York, is home to brands including SheaMoisture, Nubian Heritage and Madam C.J. Walker. It is expected to have turnover of $240 million this year.

Sundial will operate as a standalone unit within Unilever and its founder, Richelieu Dennis, who hails from Liberia, will stay on to run it.

Buying Sundial accelerates Unilever’s push deeper into personal care products, which tend to grow faster and be more international than its food business.

The deal is part of a bigger buying spree by Unilever, which earlier this year rebuffed a $143 billion takeover offer from Kraft-Heinz (KHC.O), that has included Pukka Herbs and Tazo tea, Carver Korea beauty products and Mae Terra food.

(Corrects third paragraph to read “New York” instead of “New Jersey”)


Reporting by Martinne GellerEditing by Greg Mahlich

Our Standards:The Thomson Reuters Trust Principles.

 

[hothair]

Wow. Get money I guess.

 

[mzteaze]

Well, be prepared for formula changes in the near future.

 

[intellectualuva]

Well, be prepared for formula changes in the near future.

Yep. Good thing I started moving away from Nubian Heritage. I used to love that Papaya lotion.

 

[LuvlyRain3]

I was planning on quitting shea moisture anyway

 

[Chicoro]

Get money! Not Sundial - but YOU LHCF ladies! This is a stock purchase opportunity. Get those portfolios in formation! This might be a good one to observe, watch and learn.

https://www.fool.com/investing/2017/02/26/kraft-heinz-wont-buy-unilever-but-should-you.aspx

 

[Soaring Eagle]

Good for them. They are in business to make money. Hope it all goes well and the company and affiliated brands continue to thrive.

This partnership also entails a $100M investment into women of color entrepreneurs.

 

[Chicoro]

Good for them. They are in business to make money. Hope it all goes well and the company and affiliated brands continue to thrive.

This partnership also entails a $100M investment into women of color entrepreneurs.

Can you tell us more about this, please? Is there an article link? This is becoming more fascinating by the minute.

 

[AnjelLuvs]

I thought SheaMoisture been nixed...

 

[Soaring Eagle]

Can you tell us more about this, please? Is there an article link? This is becoming more fascinating by the minute.

Here you go:

There are 4 videos in the playlist where the CEO is being interviewed. I've only linked the one where they are speaking about the investment. But, in the first and second video he is asked if the company is selling out. Some of you may want to watch those. IJS

 

[Sharpened]

Real life, better than a soap opera.

 

[krissyhair]

I can only dream of creating a successful product and company, selling it off to a rich European corporation, then laughing all the way to the bank, early retirement, and inter-generational wealth for my seeds.