Will Unilever buy Drunk Elephant?

Will Unilever buy Drunk Elephant?

Unilever is said to be in the running to buy clean skin care brand Drunk Elephant for US$1 billion, according to a report published by Bloomberg, quoting the Sunday Telegraph as its source.

As reported by Global Cosmetics News at the time, Drunk Elephant revealed that it was looking for buyers back in January, with Founder Tiffany Masterson revealing in an interview with Business of Fashion that she was working with two investment banks to explore the possibility of a sale.

Unilever’s prestige division has been buying up skin care brands, including Garancia, REN and Dermalogica, while its venture arm has been investing in start-ups across the globe, most recently Dr Roebuck’s and vegan brand Plum.

Unilever declined to comment on the Drunk Elephant bid when approached by the Sunday Telegraph, per Bloomberg.