Unilever plc (UL) Enters Agreement to Acquire Seventh Generation
- Top 10 News for 9/19 - 9/23: Twitter on the Auction Block; Allergan Bolsters NASH Effort; Microsoft Returns Value
- Wall Street falls as energy lags; shares post gains on week
- Rumored Forever, Twitter (TWTR) May Have Finally Put the 'For Sale' Sign Up
- Facebook (FB) Shares Under Pressure on Reports Video Ad Metrics Were Artificially Inflated
- Brookfield Infrastructure (BIP)-Led Consortium to Take Controlling Stake in Petrobras' (PBR) NTS for $5.2B
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Unilever announced 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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CVB Financial (CVBF), Commerce Bancorp Enter $57.5M Merger Agreement
- KeyCorp (KEY) Receives Regulatory Approval to Acquire First Niagara Bank
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!