For the #BlackGirlMagic entrepreneurs…
Unilever Acquiring Sundial Brands
Some huge news broke today in the world of personal care products.
Sundial Brands, the inclusive haircare, and skincare company behind SheaMoisture (Remember THAT panty melting beard ad?), Nubian Heritage, Madam C.J. Walker and nyakio™, is being acquired.
Unilever announced today that it has entered into an agreement to acquire Sundial Brands with founder, Richelieu Dennis, continuing to remain in the driver’s seat as CEO and Executive Chairman.
And if you’re a female entrepreneur of color, this news should definitely make your 4c coils perk up. Why? Because Unilever and Sundial are creating the New Voices Fund with an initial investment of $50 million to empower women of color entrepreneurs. They also have an intention to grow it to $100 million.
“We are excited to partner with Richelieu and his team to enable Sundial to bring its unique product offerings and community impact to more people around the world,” said Alan Jope, President, Unilever Personal Care. “We look forward to continuing to grow the business and make an even bigger impact on society through Sundial’s community programs.”
Additionally, Unilever has appointed Esi Eggleston Bracey as EVP & COO of Unilever North America Personal Care. As a part of her role, Bracey will work closely with Richelieu Dennis to further accelerate the growth, purpose-driven mission and consumer connectivity of Sundial Brands.
Both Bracey and Dennis can be seen in a new video discussing the partnership with Michaela Angela Davis.
Big news, congrats to them!