Unilever To Acquire Schmidt's Naturals Personal Care Company
Consumer goods giant Unilever has announced an agreement to acquire Schmidt's Naturals, a personal-care company based in Portland, Oregon.
The company began as natural deodorant brand, but now also manufactures bar soap and toothpaste, with a range of products derived from plants and minerals.
“Schmidt’s Naturals is a strong, innovative brand in the fast-growing natural category, and nicely complements our existing portfolio of US deodorants, which includes leading brands Degree, Axe and Dove,” said Kees Kruythoff, president of Unilever North America.
“The brand’s focus on transparency and mission to make natural products accessible to everyone aligns closely with Unilever values and represents an exciting category expansion for our family of brands.”
Unilever says that Schmidt's Naturals co-founder, Jamie Schmidt and Michael Cammarata will continue to be involved with the brand.
"I am proud to say that as a result of our partnership with Unilever, we are better positioned than ever in our mission to make natural products accessible to all," said Schmidt.
Terms of the transaction were not disclosed, but the deal is expected to close in the first quarter of 2018.
Unilever has been continuing to expand its portfolio in 2017, and so far this year, ten new acquisitions have been announced.
In terms of its personal care unit, last month the company announced that it was acquiring Sundial Brands, which produces hair and skin care products aimed at black women, and it completed it €2.27 billion acquisition of cosmetics company Carver Korea.
In its third quarter, the consumer goods company, which manufactures brands such as Ben & Jerry's ice cream and Dove soap, reported sales that fell short of estimates, with revenue growth slowing to 2.6%.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.