Unilever announced that it has signed an agreement to acquire REN Skincare, a British skin care brand created in 2000. REN's brand position ("performance; purity; pleasure") gives the brand, according to Unilever, a highly distinctive market position that has global relevance.
“We are delighted to be adding REN to the Unilever portfolio of personal care brands," said Vasiliki Petrou, Unilever SVP Prestige Brands. "It is a brand with an incredibly loyal following, with a unique proposition that no doubt gives it potential for even further growth, especially given that the naturals category is one of the fastest growing in skin care globally. Its premium positioning complements well our existing portfolio.”
The multi-award winning brand is currently sold in 50 countries, and is sold predominantly in specialty stores and pharmacies.
“It’s been an amazing experience creating and building REN over the last 15 years, but it’s time for the brand to go to the next level," said Antony Buck, CEO, REN. "Unilever is a great company with great principles, it has a profound understanding of brands and global reach, and it makes the perfect partner to help REN fulfil its future potential worldwide.”
Terms of the deal were not disclosed. The acquisition is expected to close in May 2015, subject to customary regulatory approvals.