Unilever to acquire Schmidt’s Naturals
Unilever today announced an agreement to acquire Schmidt’s Naturals, a beauty & personal care company based in Portland, Oregon.
Englewood Cliffs, NJ – Founded in 2010 by Jaime Schmidt, Schmidt’s Naturals started as a deodorant brand and has extended its offering to bar soap and toothpaste. Schmidt’s natural deodorants include award-winning formulas derived from plants and minerals. Its most popular variants include Charcoal + Magnesium, Rose + Vanilla, Lavender + Sage, as well as fragrance-free offerings.
“Schmidt’s Naturals is a strong, innovative brand in the fast-growing natural category, and nicely complements our existing portfolio of US deodorants which includes leading brands Degree, Axe and Dove,” said Kees Kruythoff, President, Unilever North America. “The brand’s focus on transparency and mission to make natural products accessible to everyone aligns closely with Unilever values and represents an exciting category expansion for our family of brands.”
Alan Jope, President, Unilever Beauty & Personal Care, added: “Schmidt’s Naturals is a great strategic fit for our Beauty & Personal Care business, allowing us to reach new consumers who prefer natural options. We look forward to utilizing our Beauty & Personal Care leadership to extend Schmidt’s Naturals into new sales channels and geographies.”
Co-founders Jaime Schmidt and Michael Cammarata will continue to be involved with the brand.
“Today is a momentous day in the history of Schmidt's Naturals as we announce our joining of the Unilever family of brands,” said Jaime Schmidt, Founder, Schmidt’s Naturals. “Thanks to our community, what started humbly in my kitchen and local farmers’ markets has grown into homes worldwide. I am proud to say that as a result of our partnership with Unilever, we are better positioned than ever in our mission to make natural products accessible to all. Moreover, Unilever’s substantive actions towards creating a more sustainable and equitable future for diverse peoples across the planet further fuels the enthusiasm behind our alliance.”
Michael Cammarata, Co-founder and CEO, Schmidt’s Naturals: “As long as I can remember, I’ve had one dream—to build and be part of a meaningful company that would help change the world and empower people everywhere to live their best lives. Today, Schmidt’s Naturals and Unilever are coming together to bring natural products to the world in new and innovative ways. Through our partnership, we look forward to Unilever taking Schmidt’s Naturals to new heights and cementing the brand’s mission.”
Terms of the transaction were not disclosed. Subject to any applicable governmental authorizations, the transaction is expected to close no later than the first quarter 2018.
100 Victoria Embankment
London EC4Y 0DY
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; the effect of climate change on Unilever's business; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. 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 Annual Report on Form 20-F 2016 and the Unilever Annual Report and Accounts 2016.