Unilever Grows Personal Care Portfolio with Dermalogica
Unilever (NYSE: UL) has taken over Dermalogica, a skin care company known for cleansers, exfoliants, toners, masques, eye treatments, acne treatments and moisturizers.
Financial details remain undisclosed. Headquartered in Carson, California, Dermalogica also has operations in the U.K., Australia, Ireland and Canada. The company's products are sold in more than 80 countries worldwide.
The deal was announced just a week after Coty Inc., a maker of skin lotions and fragrances, inked a $12 billion agreement with Procter & Gamble Co. to acquire beauty products that had been put up for sale. Unilever was reportedly one of the potential bidders competing with Coty.
Unilever, a conglomerate known for making of Dove skin creams, has shed food brands in recent years and is apparently banking on personal hygiene products instead. Under chief executive Paul Polman, the London company has focused on its health and beauty business while selling slower-growth food brands, such as its Ragu and Bertolli pasta sauce business. At the time, Unilever president Kees Kruythoff said the pasta sauce sale represented the final steps in reshaping the company's portfolio in North America.
Shortly afterward, Unilever followed up with the sale of its Slim-Fast diet food business to Kainos Capital. More recently, the company bought Kate Somerville Skincare LLC, a Los Angeles-based brand, from JH Partners LLC in May.
Aaron Gruber and Mark Greene of Cravath Swaine & Moore LLP are representing Unilever on the Dermalogica purchase.