LONDON (dpa-AFX) - Unilever PLC has agreed to buy Seventh Generation, as the company plans to expand its business in the fast-growing 'natural' category.
Vermont-based Seventh Generation makes plant-based detergents and household cleaners. The company's turnover exceeded $200 million in 2015. 'Seventh Generation has a comprehensive product portfolio and a distribution network covering the 'natural' category in grocery, mass merchandise and e-commerce channels,' Unilever said in a statement.
Financial details of the deal were not disclosed. The transaction is subject to customary regulatory approvals
Nitin Paranjpe, President of Unilever's Home Care business said: 'Seventh Generation has long been a disruptor in the US marketplace, leading the industry in sustainable innovation while attracting new generations of conscious consumers. This addition to Unilever's product portfolio will help us meet rising demand for high-quality products with a purpose.'
Copyright RTT News/dpa-AFX
Kostenloser Wertpapierhandel auf Smartbroker.de