Unilever has announced a deal to buy prestige hair care brand Living Proof.
The brand was launched by entrepreneur Jon Flint and MIT professor Robert Langer. It uses patented technology to offer healthier, less frizzy hair with added volume.
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.
Living Proof will join Unilever's Prestige portfolio, alongside brands such as Dermalogica, Kate Somerville, Murad and REN.
The terms of the deal were not disclosed, but WWD estimates that the company’s net sales are worth $60 to $70m.
Unilever’s purchase also means that actress Jennifer Aniston will no longer be associated with the brand.
Aniston was previously a celebrity spokesperson for the brand, appearing in marketing materials as a model. In 2012 she also purchased a partial stake in Living Proof, which has now been sold as Unilever took a 100% stake in the firm.
Alan Jope, President of Personal Care at Unilever, commented: “We are delighted to be adding Living Proof to our portfolio of Prestige brands. 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.”
Grace Ray, CEO at Living Proof, added: “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."