Unilever has announced that it is acquiring digital-led skin care brand Paula's Choice from TA Associates. Terms of the deal were not disclosed. The transaction is expected to close in the third quarter 2021.
Update: Unilever announced on August 3, 2021 that it has completed the acquisition of Paula’s Choice.
Vasiliki Petrou, Unilever EVP and CEO prestige, said: “We are thrilled that Paula’s Choice will join our Unilever prestige family. Paula’s Choice is a true pioneer in the digital space for beauty and has created a mission-based brand rooted in truth and transparency. We can’t wait to introduce the brand and its iconic products to an even bigger audience.”
Paula Begoun, Paula's Choice founder, said: “I am so excited that Unilever and Paula’s Choice are joining forces, and I want to thank Vasiliki and the Unilever team for believing in us, our mission and our values. With Unilever we can build on our work and vision spanning 26 years of creating brilliant products, and by giving people the self-confidence that comes from knowing they are taking the best care of their skin possible.”
Sunny Jain, Unilever beauty and personal care president, said: “Developing Unilever’s portfolio in the high growth premium skin care segment is one of our strategic priorities and I’m excited that Paula’s Choice is joining us on this journey.”
Jeffrey Barber, managing director at TA, said: “We are proud to have played a part in Paula’s Choice’s growth story where it has become a leading direct-to-consumer global skin care brand. We are excited to see what the company can accomplish in partnership with Unilever.”