Unilever, Owner of Dove Brands, Is Acquiring Shea Moisture’s Parent Company Sundial
This well-known natural brand may soon see changes.
Almost every naturalist’s staple product Shea Moisture has recently been bought by the parent company of Dove. It was announced recently that Unilever, the parent company of Dove, would acquire Sundial Brands, the company that owns Shea Moisture.
Shea Moisture is known as one of the largest black-owned cosmetic companies as it was established back in 1991 by Richelieu Dennis, the current CEO. Dennis will remain in his position and hopes through this change he will be able to reach a global audience. “I am excited Sundial and Unilever have created this partnership, rooted in a purpose-driven ethos, that represents an incredible opportunity to take our Community Commerce economic empowerment and impact model to another level.” Dennis stated.
While also coming together through business ventures, the two companies have initiated a plan to invest $50 million dollars to the New Voices Fund. This is aimed at promoting and empowering the rise of women of color entrepreneurs. We hope this transition is a smooth one and that we can expect to see better results with their products.
Check out this video explaining the transition.