LONDON & ROTTERDAM, Netherlands--(BUSINESS WIRE)--Unilever announced today that it has signed an agreement to acquire Seventh Generation, Inc., the North American home and personal care products company.
Based in Vermont, Seventh Generation is a pioneer in corporate responsibility and sustainable product innovations, including plant-based detergents and household cleaners. The company’s turnover exceeded US $200m in 2015 and it has seen double digit compounded annual growth over the last 10 years.
Seventh Generation has a comprehensive product portfolio and a distribution network covering the ‘natural’ category in grocery, mass merchandise and e-commerce channels.
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.”
Kees Kruythoff, President of Unilever North America, added: “We’re thrilled to add Seventh Generation to our brand portfolio, providing us with the opportunity to accelerate growth with our retail partners and connect in new ways with consumers. Adding Seventh Generation to Unilever’s portfolio of purpose-driven brands like Ben & Jerry’s and Dove demonstrates our continued commitment to the Unilever Sustainable Living Plan.”
Seventh Generation CEO John Replogle said: “For 28 years, Seventh Generation has been creating products that are not only effective but also designed with environmental and human health in mind while demonstrating that business can have a greater purpose, serving not just profit but people and the planet as well. Today marks the next chapter and we’re proud to join Unilever and its shared vision for purpose-led business on a global scale. Working together we are confident we can have a positive impact on the health of billions of people around the world, truly fulfilling our mission of nurturing the next seven generations while transforming global commerce.”
Terms of the deal were not disclosed. The transaction is subject to customary regulatory approvals.
Unilever is one of the world’s leading suppliers of Personal Care, Food, Home Care and Refreshment products with sales in over 190 countries and reaching 2 billion consumers a day. It has 169,000 employees and generated sales of €53.3 billion in 2015. Over half (58%) of the company’s footprint is in developing and emerging markets. Unilever has more than 400 brands found in homes around the world, including Persil, Dove, Knorr, Domestos, Hellmann’s, Lipton, Wall’s, PG Tips, Ben & Jerry’s, Marmite, Magnum and Lynx.
Unilever’s Sustainable Living Plan commits to:
- Helping more than a billion people take action to improve their health and well-being by 2020.
- Halving the environmental impact of our products by 2030.
- Enhancing the livelihoods of millions of people by 2020.
Unilever was ranked number one in its sector in the 2016 Dow Jones Sustainability Index. In the FTSE4Good Index, it achieved the highest environmental score of 5. It led the list of Global Corporate Sustainability Leaders in the 2016 GlobeScan/SustainAbility annual survey for the sixth year running. Unilever was ranked the most sustainable food and beverage company in Oxfam’s Behind the Brands Scorecard in 2016 for the second year.
About Seventh Generation
Established in 1988, in Burlington, Vermont, Seventh Generation is one of the leading US brands of household and personal care products. The company lives its commitment of "caring today for seven generations of tomorrows," with products formulated to provide mindful solutions for the air, surfaces, fabrics, pets and people within your home -- and for the community and environment outside of it. A pioneer in corporate responsibility, Seventh Generation continually improves ways to reduce its environmental impact, increase performance and safety, and create a more sustainable supply chain. To learn more about Seventh Generation products and business practices, locate a retailer in your area, or review Seventh Generation's Corporate Consciousness Report, visit www.seventhgeneration.com.
This announcement may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'will', 'aim', 'expects', 'anticipates', 'intends', 'looks', 'believes', 'vision', or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever group (the "Group"). They are not historical facts, nor are they guarantees of future performance.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; financial risks; failure to meet high ethical standards; and failure to comply with laws and regulations, including tax laws. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Group's Annual Report on Form 20-F for the year ended 31 December 2015 and the Annual Report and Accounts 2015.