June 16: Global home products giant Unilever announced an agreement to acquire Paula’s Choice, a digital-led skincare brand from TA Associates. Making the announcement earlier on Monday, the transaction is probably expected to close in Q3 2021.
Paula’s Choice was found by Paula Begoun back in 1995 as the brand is well-known as a pioneer of direct to customer e-commerce. Also, the brand is recognised for its products backed by scientific features measures.
The brand has also curated an online hub of skincare and ingredient knowledge that features ‘Ingredient Dictionary’ which has information and research about as many as 4,000 ingredients along with expert’s advice.
Unilever earlier on Thursday had announced that in April the brand had delivered a ‘strong growth’ in its Prestige Beauty segment given that all its divisions produced positive revenue gains in the first quarter.
Talking about the acquisition, Vasiliki Petrou, Unilever EVP and CEO Prestige, “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.”
Furthermore, Begoun quoted, “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.”