Unilever: buys US natural deodorants firm Schmidt's.
(CercleFinance.com) - Consumer products company Unilever said yesterday it would acquire Schmidt's Naturals, a personal care company based in Portland, Oregon.
Founded in 2010 by Jaime Schmidt, the firm started as a deodorant brand and has now extended its offering to bar soap and toothpaste, derived from minerals and plants, such as vanilla and lavender.
"Unilever is trying to increase its exposure to the (1) natural segment which represents 27% of the Personal Care market and (2) prestige where the aim is still to have 1 billion euros in sales (vs. 450 million currently)," Bryan Garnier analysts pointed out this morning.
The terms of the transaction - which is expected to close in the first quarter 2018 - were not disclosed.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Founded in 2010 by Jaime Schmidt, the firm started as a deodorant brand and has now extended its offering to bar soap and toothpaste, derived from minerals and plants, such as vanilla and lavender.
"Unilever is trying to increase its exposure to the (1) natural segment which represents 27% of the Personal Care market and (2) prestige where the aim is still to have 1 billion euros in sales (vs. 450 million currently)," Bryan Garnier analysts pointed out this morning.
The terms of the transaction - which is expected to close in the first quarter 2018 - were not disclosed.
Copyright (c) 2017 CercleFinance.com. All rights reserved.