Consumer goods giant signs agreement to buy 'natural' cleaning product pioneer for an undisclosed sum
Just days after reports emerged that Unilever was in talks to acquire US green baby and personal care products specialist The Honest Company, the consumer goods giant has announced it is to buy Seventh Generation, the US home and personal care outfit focused on delivering 'natural' plant-based products.
The two companies announced yesterday that Unilever has signed an agreement to acquire Seventh Generation for an undisclosed sum.
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Vermont-based Seventh Generation has emerged as a leading player in the fast-growing North American market for green consumer goods, specialising in plant-based detergents and household cleaners. It boasts annual revenues of over $200m and has seen double-digit compounded annual growth over the past 10 years driven by sales across its grocery, mass merchandise, and e-commerce channels.
"Seventh Generation has long been a disruptor in the US marketplace, leading the industry in sustainable innovation while attracting new generations of conscious consumers," said Nitin Paranjpe, president of Unilever's Home Care business, in a statement. "This addition to Unilever's product portfolio will help us meet rising demand for high-quality products with a purpose."
Seventh Generation chief executive John Replogle said the company was confident the deal would allow it to build on its vision for green products.
"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," he said. "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."
Kees Kruythoff, president of Unilever North America, added that the deal further underlined the company's "continued commitment" to its high profile Sustainable Living Plan.
The consumer goods giant has set a series of high profile targets to slash its environmental footprint over the next decade and shift its focus towards a greener product portfolio. Earlier this year the multinational revealed that the brands it classifies as 'Sustainable Living' grew 30 per cent faster than the rest of the business in 2015.
The same desire to expand the company's green product portfolio is thought to be behind its reported interest in The Honest Company, a US-based brand focused on green baby and personal care products that was co-founded by Hollywood actor Jessica Alba.
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