Close to the end of 2017, Unilever announced its current movement in acquiring Sundial Brands. Sundial Brands is a leading hair care and skincare company recognized for its innovative use of high-quality and culturally authentic ingredients. Sundial brands include Shea Moisture, Nubian Heritage, Madam C.J. Walker and Nyakio.
Since its founding in 1991, Sundial has championed inclusive beauty and has served the unmet needs of consumers of color through its robust innovation pipeline, product offerings, and purpose-driven business model. Through its Community Commerce business model, B Corp and Fair for Life certifications, Sundial’s approach complements the Unilever Sustainable Living Plan (USLP) to accelerate growth while increasing positive social impact.
As part of the agreement, Unilever and Sundial are creating the New Voices Fund with an unprecedented initial investment of $50 million to empower entrepreneurial women of color.
“I’ve always wanted Sundial Brands to be an inspiration to other minority-owned companies of how a business against all odds can achieve excellence, have a significant social impact in our communities and be successful on a world stage,” said Richelieu Dennis, founder and CEO of Sundial Brands.
“I am excited Sundial and Unilever have created this partnership, rooted in a purpose-driven ethos, that represents an incredible opportunity to take our Community Commerce economic empowerment and impact model to another level.”
Unilever is one of the world’s leading suppliers of Food, Home Care, Personal Care and Refreshment products with sales in over 190 countries and reaching 2.5 billion consumers a day. In the United States and Canada, the portfolio includes brand icons such as Dove, Nexxus, Noxzema, PG Tips, Pond’s, Caress, Clear Scalp & Hair Therapy and more.