Unilever to acquire Sundial Brands

Unilever has announced the acquisition of Sundial Brands, a leading haircare and skincare company headquartered in the US.

The New York-based business is widely known for its use of high-quality and culturally authentic ingredients, with brands including SheaMoisture, Nubian Heritage, Madam CJ Walker and Nyakio.

It also prides itself on upholding inclusive beauty standards and reaching out specifically to ethnic minority customers, which aligns with Unilever's Sustainable Living Plan goals of accelerating growth while increasing positive social impact.

Sundial Brands will operate as a standalone unit within Unilever, with its founder Richelieu Dennis continuing to lead the business as its chief executive officer and executive chairman.

Additionally, Unilever and Sundial will spend an initial $50 million (37.71 million pounds) to set up the New Voices Fund, an initiative designed to empower non-white female entrepreneurs.

Alan Jope, president of Unilever's personal care business, said: "We are excited to partner with Richelieu and his team to enable Sundial to bring its unique product offerings and community impact to more people around the world."

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