Unilever today announced an agreement to acquire Schmidt's Naturals, a personal care company based in Portland, Oregon.
Founded in 2010 by Jaime Schmidt, Schmidt's Naturals started as a deodorant brand and has extended its offering to bar soap and toothpaste. Schmidt's natural deodorants include award-winning formulas derived from plants and minerals. Its most popular variants include Charcoal + Magnesium, Rose + Vanilla, Lavender + Sage, as well as fragrance-free offerings.
Alan Jope, President, Unilever Personal Care, added: "Schmidt's Naturals is a great strategic fit for our Personal Care business, allowing us to reach new consumers who prefer natural options. We look forward to utilizing our Personal Care leadership to extend Schmidt's Naturals into new sales channels and geographies."
Co-founders Jaime Schmidt and Michael Cammarata will continue to be involved with the brand.
Terms of the transaction were not disclosed. Subject to any applicable governmental authorizations, the transaction is expected to close no later than the first quarter 2018.
About Unilever North America:
Unilever employs more than 9,000 people across North America – generating more than $10 billion in sales in 2016.
The Unilever Sustainable Living Plan commits to:
The USLP creates value by driving growth and trust, eliminating costs and reducing risks. The company's sustainable living brands are growing 50% faster than the rest of the business and delivered more than 60% of the company's growth in 2016.
Unilever was ranked number one in its sector in the 2017 Dow Jones Sustainability Index. In the FTSE4Good Index, it achieved the highest environmental score of 5. It led the list of Global Corporate Sustainability Leaders in the 2017 GlobeScan/SustainAbility annual survey for the seventh year running. Unilever has pledged to become carbon positive in its operations by 2030.
About Schmidt's Naturals:
Cautionary Statement/Safe Harbour:
View source version on businesswire.com: http://www.businesswire.com/news/home/20171214006077/en/
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