Unilever is acquiring Living Proof for an undisclosed sum, building on its prestige beauty holdings, which include Dermalogica, Kate Somerville, Murad and REN. The deal will close in the first quarter of 2017. Spokesperson Jennifer Aniston has reportedly ended her affiliation with the brand.
Living Proof was backed by Polaris Partners and Leerink Partners and founded by venture capitalist and entrepreneur, Jon Flint, who brought innovations discovered at MIT to the hair care space. Living Proof's products enable people to get visibly healthier hair, fight frizz, build volume and address a number of other hair care challenges," according to the brand.
"I’m confident that together we will accelerate our mission to change people’s lives through products that deliver results you can see from across the room."
“We are delighted to be adding Living Proof to our portfolio of Prestige brands," Alan Jope, president personal care. "The Prestige Hair retail market is very attractive and offers significant potential for growth. Through compelling product result demonstrations and influencer driven marketing, Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand.”
“I am extremely proud of Living Proof’s growth over the years and the difference our products make to people’s lives," said Grace Ray, Living Proof CEO. "Unilever shares our deep commitment to science, quality and innovation, making them the ideal partner to take us to the next stage of our journey. I’m confident that together we will accelerate our mission to change people’s lives through products that deliver results you can see from across the room."