Unilever mulls $1bn bid for Drunk Elephant
Unilever is considering making an offer for American skincare brand Drunk Elephant, which is working with investment banks Moelis and Financo to explore a sale.
The Anglo-Dutch consumer goods group has acquired French cosmetics brand Garancia, premium eco-friendly detergent and fabric care line The Laundress and Italian personal care brand Equilibra in recent months, and adding Drunk Elephant to its portfolio would expand its beauty product offerings further, The Telegraph reported.
Founded by Tiffany Masterson, Drunk Elephant is a natural brand committed to using only ingredients that directly benefit the skin’s health. It avoids using essential oils, drying alcohols, silicones, chemical screens, fragrance/ dyes and sls in its products, claiming these “Suspicious 6” may cause allergic sensitivities.
Last year the business generated sales of $150 million (£115m), and a sale could value it at around $1 billion, according to people familiar with the process.
Drunk Elephant is available in the UK through a new partnership with high-end beauty retailer Space NK.
Copyright © 2022 FashionNetwork.com All rights reserved.