Unilever To Buy Murad

(RTTNews) - Anglo-Dutch consumer goods giant Unilever (UL, ULVR.L, UN) said Thursday that it has agreed to buy U.S. skincare company Murad.

Terms of the deal were not disclosed.

Founded in 1989 in Los Angeles, Murad is the first modern doctor brand, with a mission to provide proven, efficacious products. Murad products combine a unique recipe of high performance ingredients that deliver solutions for healthy, beautiful skin. The brand, which had a turnover of US$115m in 2014, will be incorporated into Unilever's Prestige division, which is exclusively dedicated to select distribution and premium personal care brands.

Paul Polman, Unilever CEO, said, "We are delighted to welcome Murad to our portfolio of Prestige personal care brands. As an expert 'Doctor brand', Murad offers products in a differentiated clinical and holistic well-being segment. It has a loyal following that gives it excellent potential for expansion, and wonderfully complements the brands recently acquired. We look forward to working with Dr Murad and his team to continue to grow the brand."

The Murad deal follows Unilever's recent acquisitions of Dermalogica, Kate Somerville and REN.