Photo: Seventh Generation
Unilever is looking to grow through acquisition. The consumer packaged goods giant, which recently acquired Dollar Shave Club, has reached an agreement to acquire Seventh Generation, the maker of plant-based household and laundry cleaning products as well as personal care items including diapers and tampons.
The deal, reportedly valued at $700 million, will have Seventh Generation join Ben & Jerry’s and Dove among Unilever’s growing lineup of “purpose-driven brands,” said Kees Kruythoff, president of Unilever North America, in a statement.
“Seventh Generation has long been a disruptor in the U.S. marketplace, leading the industry in sustainable innovation while attracting new generations of conscious consumers,” said Nitin Paranjpe, president of Unilever’s Home Care business.
The deal to acquire Seventh Generation comes on the heels of reports last week that Unilever was in talks to acquire The Honest Company, co-founded by actress Jessica Alba. The talks were described as being in the early stages by The Wall Street Journal. It is not known if the Seventh Generation deal will end Unilever’s pursuit of The Honest Company.
For those questioning whether Seventh Generation will lose its “green” mojo if it is acquired by Unilever, the company only need point to the experience of Ben & Jerry’s acquired by the CPG giant in 2000. Back then, the company pledged to let Ben & Jerry’s be Ben & Jerry’s. While tensions may have arisen over the years between the brand and its parent (see GMO labeling), Unilever is credited with allowing Ben & Jerry’s to stay true to its mission and the business has seen subsequent growth.