Unilever to buy U.S. bodycare products company Sundial Brands

Anglo-Dutch consumer goods giant Unilever is to buy U.S.-based company Sundial Brands, a maker of hair and skincare products, expanding deeper into the fast-growing personal care products market.

The maker of Dove soap and Axe body spray announced the deal on Monday, without disclosing financial terms.
Sundial, a 26-year-old company based in New Jersey, is home to brands including SheaMoisture, Nubian Heritage and Madam C.J. Walker. It is expected to have turnover of $240 million (£179.96 million) this year.

Sundial will operate as a standalone unit within Unilever and its founder, Richelieu Dennis, who hails from Liberia, will stay on to run it.

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Buying Sundial accelerates Unilever's push deeper into personal care products, which tend to grow faster and be more international than its food business.

The deal is part of a bigger buying spree by Unilever, which earlier this year rebuffed a $143 billion takeover offer from Kraft-Heinz, that has included Pukka Herbs and Tazo tea, Carver Korea beauty products and Mae Terra food.