Unilever to acquire Paula's Choice skincare
Global home products giant Unilever announced on Monday an agreement to acquire digital-led skincare brand Paula’s Choice from TA Associates. The transaction is expected to close in Q3 2021.
Founded by Paula Begoun in 1995, Paula's Choice is known as a pioneer of direct to consumer e-commerce, and is recognized for its science-backed products and curated online hub of skin care and ingredient knowledge, featuring an extensive 'Ingredient Dictionary' that breaks down the research behind nearly 4,000 ingredients, and 'Expert Advice'.
“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,” said Vasiliki Petrou, Unilever EVP and CEO Prestige.
“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,” added Begoun.
In April, Unilever said Thursday it delivered "strong growth” in its Prestige Beauty segment as all its divisions produced positive revenue gains in the first quarter.
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