Unilever to buy US-based Seventh Generation

Dhaka,  Monday,   2016-09-20
Published : 20 Sep 2016, 18:53:59

Unilever to buy US-based Seventh Generation

Unilever will buy Seventh Generation, a US-based maker of "green" home and personal care goods, it said on Monday, its latest deal aimed at boosting the faster-growing part of its business, reports Reuters.

Vermont-based Seventh Generation's products include recycled tissues, organic tampons and dish soap with plant-based ingredients. Its focus on sustainability echoes that of Unilever, which has tried to put environmental concerns at the forefront of its business.

Unilever has said its more sustainably minded brands, such as Dove soap and Ben & Jerry's ice cream, outperform its other brands, which range from Lipton tea to Knorr soups.

In recent years, the company has divested slow-growing food brands and acquired higher-margin, higher-growth skincare and personal care brands.

Financial terms of Monday's deal were not disclosed, though Unilever said Seventh Generation had a 2015 turnover of more than $200 million, having seen double-digit compounded annual growth over the last 10 years.

Unilever announced deals for Dollar Shave Club in July and Blueair air purifiers in August, following purchases skincare brands including Murad and Dermalogica.



- TS

 
ADDRESS
Editor : A.H.M Moazzem Hossain
Published by the Editor for International Publications Limited from Tropicana Tower (4th floor), 45, Topkhana Road, GPO Box : 2526 Dhaka- 1000 and printed by him from City Publishing House Ltd., 1 RK Mission Road, Dhaka-1000.
Telephone : PABX : 9553550 (Hunting), 9513814, 7172017 and 7172012 Fax : 880-2-9567049
Email : editor@thefinancialexpress-bd.com, fexpress68@gmail.com
Copyright © 2016. All rights reserved
Powered by : orangebdlogo
close