“Green” and “all natural” are popular pitches these days, which numerous brands have ridden to success. And now, according to the great corporate circle of life, it’s time for those brands to be acquired by massive conglomerates interested in separating hippie millennials from their money. Anyway, Unilever is buying crunchy cleaning products company Seventh Generation!
That’s according to the Wall Street Journal. Said Kees Kruythoff, the president of Unilever North America, in a statement:
“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.”
So what does this mean for Jessica Alba’s Honest Company, recently reported to be in early acquisition talks with the conglomerate?
“It is unclear if the new deal means the Honest Co. talks are over, or if Unilever is effectively seeking to corner the ‘green’ household goods market,” notes Fortune. The Wall Street Journal’s wording on the matter isn’t clear: “That deal would have set Unilever back by over $1 billion, according to people familiar with the acquisition. The price tag for Seventh Generation will likely have been smaller given that Honest generates roughly $300 million in annual revenue.” (Fortune says “a source familiar with the deal” puts the price tag between $600 million and $700 million in cash.)
Seems worth noting that Seventh Generation does indeed make diapers, though not in cute patterns.