Jennifer Aniston has been shown the door by the Anglo-Dutch consumer products giant Unilever. Unilever announced this morning that it has acquired Living Proof for an undisclosed sum. A spokesperson for the company also announced that Jennifer Aniston will no longer be involved with the company. Aniston had been the spokesperson since 2012 as well as a minority owner, so it’s not all bad news for the former Friends star.
Living Proof was founded by MIT professor Robert Langer and entrepreneur Jon Flint. The idea was to combine hard science with female beauty products to combat common hair issues like hair volume and frizz. The company’s overall net sales for 2016 are said to be somewhere between $60-$75 million. Living Proof’s CEO Grace Ray released this statement earlier today, “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.”
This will be Unilever’s first foray into the prestige hair market, which will gain them access to the Sephora and Ulta’s of the world. Their current drug store products include Suave, Dove, TreSemmé and Clear. Alan Jope, the head of Personal Care at Unilever released this statement today, “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.”
Terms of the deal were not disclosed in the announcement but they did mention it will close in early 2017. Unliver has been on a bit of a buying spree lately with recent acquisitions of Dollar Shave Club, Kate Somerville, Ren, Murad and Dermalogica.