Finanzas: Unilever To Acquire Living Proof For Millennial Hair Care Products

 

Unilever will acquire hair products company Living Proof for an undisclosed sum.

Living Proof has developed over 40 ‘scientific’ hair care products.

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The company is successfully marketing its products to millennial consumers.

If Unilever can provide greater distribution in return for learning how to better develop products and sell to Millennials, it will be a good trade.

LEA TAMBIÉN: Finanzas: Deutsche Bank eleva su previsión de crecimiento

Quick Take

Consumer products giant Unilever (NYSE:UL) has announced an agreement to acquire hair products company Living Proof for an undisclosed amount.

The acquisition is one of several significant buys this year for Unilever as it tries to remain relevant to Millennial consumers.

If UL can provide its distribution capabilities to these acquisitions and glean product development and marketing knowledge from the upstarts, I’ll consider it a long-term net positive for Unilever.

Target Company

Cambridge, Massachusetts-based Living Proof was founded in 2004 by Ward Stegerhoek, Jon Flint, Mitch De Rosa, Daniel Anderson, Amir Nashat and Robert Langer to create improved hair care products from scientific research.

The company says it has ‘twenty patents, over 40 products and more than 100 awards’.

It is headed by CEO Grace Ray, who was previously VP Global Marketing at Smashbox Cosmetics, later acquired by Estee Lauder (NYSE:EL).

Major investors included Polaris Partners (Jon Flint and Amir Nashat) and Leerink Partners, who with others invested a total of $53 million in three financing rounds, with the first round being reported in 2008.

Fuente: Seeking Alpha


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