Unilever has announced it is set to acquire Sundial Brands, in a deal that is a huge stride for the multicultural sector.
Sundial Brands changed the beauty game for women of colour when Liberia immigrant Richelieu Dennis partnered with college roommate Nyema Tubmen to pursue a bold concept: address skin and hair care issues traditionally ignored by mass market companies.
Now – over 20 years later – Sundial brands creates beauty products for black and ethnic minority consumers. Its portfolio of brands includes SheaMoisture, Nubian Heritage, Madam C.J. Walker Beauty Culture and nyakio.
Unilever North America president Kees Kruythoff said of the acquisition: "The Sundial team has built differentiated and on-trend premium brands serving multicultural and millennial consumers that enhance our existing portfolio.
“Sundial is an important addition to our U.S. portfolio of purpose-driven companies, which includes Ben & Jerry’s and Seventh Generation.”
Further, as part of the deal Unilever and Sundial have announced they will create the New Voices Fund to support women of colour entrepreneurs.
