Unilever has agreed to purchase an 100 percent stake in US hair care brand Living Proof. Terms of the deal were not disclosed, and the acquisition is expected to complete in the first quarter of 2017.
The brand will become part of Unilever’s Prestige portfolio, joining skin care brands Dermalogica and REN. However, brand ambassador Jennifer Anniston will no longer be affiliated with the brand.
Alan Jope, President Personal Care, said, “We are delighted to be adding Living Proof to our portfolio of Prestige brands. The prestige hair retail market is very attractive and offers significant potential for growth. Through compelling product result demonstrations and influencer driven marketing, Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand.”
Grace Ray, Living Proof CEO, added, “I am extremely proud of Living Proof’s growth over the years and the difference our products make to people’s lives. Unilever shares our deep commitment to science, quality and innovation, making them the ideal partner to take us to the next stage of our journey. I’m confident that together we will accelerate our mission to change people’s lives through products that deliver results you can see from across the room.”