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Unilever share price: Group agrees to buy skincare brand Murad

on Jul 3, 2015
Updated: Oct 21, 2019
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Consumer goods maker Unilever (LON:ULVR) has agreed to buy US skincare company Murad. The FTSE-100 listed group said yesterday that the deal, whose financial terms have not been disclosed, was subject to customary approvals.

Unilever’s chief executive, Paul Polman, stated: “We are delighted to welcome Murad to our portfolio of Prestige personal care brands. As an expert ‘Doctor brand’, Murad offers products in a differentiated clinical and holistic well-being segment. It has a loyal following that gives it excellent potential for expansion, and wonderfully complements the brands recently acquired. We look forward to working with Dr Murad and his team to continue to grow the brand.”
Under the deal, Murad, which had a turnover of $115 million in 2014, will be incorporated into Unilever’s Prestige division, which is exclusively dedicated to select distribution and premium personal care brands. The US brand’s acquisition will be Unilever’s fourth premium skincare deal in recent months. The maker of Dove soap and Persil washing powder last month bought Los Angeles-based Dermalogica. In May, the blue-chip company also struck a deal to buy Kate Somerville Skincare, an independent prestige brand, while in April, Unilever acquired natural ingredients niche brand REN Skincare.
Unilever has been looking to grow its Prestige personal care portfolio by increasing sales of personal care goods to two-thirds of the total, up from 37 percent currently. In recent years, the London-listed company has also shed slow-growth food brands, including Slim-Fast, Ragu and Bertolli.
As of 09:26 BST, Unilever’ share price was unchanged at 2,755.00p. The stock has gained almost five percent in the year to date.
As of 09:57 BST, Friday, 03 July, Unilever plc share price is 2,756.50p.

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