THE WHAT? Unilever has signed an agreement to acquire DTC skin care brand Paula’s Choice from TA Associates.

THE DETAILS Financial terms of the deal were not disclosed. The transaction is expected to complete in the third quarter of the year.

“I am so excited that Unilever and Paula’s Choice are joining forces, and I want to thank Vasiliki and the Unilever team for believing in us, our mission and our values,” commented Paula Begoun, Founder of Paula’s Choice. “With Unilever we can build on our work and vision spanning 26 years of creating brilliant products, and by giving people the self-confidence that comes from knowing they are taking the best care of their skin possible.”

THE WHY? Vasiliki Petrou, Unilever EVP and CEO Prestige, explains, “We are thrilled that Paula’s Choice will join our Unilever Prestige family. Paula’s Choice is a true pioneer in the digital space for beauty and has created a mission-based brand rooted in truth and transparency. We can’t wait to introduce the brand and its iconic products to an even bigger audience.”