Unilever considers $1b bid for skincare brand

Consumer goods giant Unilever is considering a $1 billion (Dh3.67 billion) offer for US skincare brand Drunk Elephant, the Sunday Telegraph reported, without saying where it got the information. Drunk Elephant, founded in 2012 by Texan mother-of-four Tiffany Masterson and which makes skincare products with natural, non-toxic ingredients, hired investment banks in January to explore a sale, according to the Wall Street Journal. Unilever declined to comment on the potential offer to the Sunday Telegraph. The Anglo-Dutch owner of Dove soap, has been expanding into new areas as its traditional brands stagnate.

Source: https://gulfnews.com/business/unilever-considers-1b-bid-for-skincare-brand-1.63896986

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