Unilever further expands skincare portfolio with Murad acquisition

Unilever has continued its recent spate of skincare business acquisitions by agreeing a deal to purchase the Los Angeles-based company Murad.

Founded in 1989 by Dr Howard Murad, the firm offers antioxidants, anti-inflammatories and hydrators to address a wide range of skincare concerns. It has a significant US presence and a regional hub for Europe located in the UK, with products sold across 42 countries.

The brand had a turnover of $115 million (73.86 million pounds) in 2014 and will now be incorporated into Unilever's prestige division, which is exclusively dedicated to select distribution and premium personal care brands.

Unilever is seeking to expand its position in this market following the recent deals to acquire a number of other skincare brands, including Dermalogica, Kate Somerville and Ren.

Paul Polman, Unilever's chief executive officer, said: "Murad offers products in a differentiated clinical and holistic wellbeing segment. It has a loyal following that gives it excellent potential for expansion and wonderfully complements the brands recently acquired."