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Unilever has signed an agreement to acquire US company SmartyPants Vitamins, expanding its activities within the consumer health market.
Founded in 2011, SmartyPants offers a range of supplements that aim to support the wellbeing needs of children and adults.
The Los Angeles-based company’s offerings are reportedly free from synthetic colours, artificial flavours, sweeteners and preservatives.
Peter Ter Kulve, president of health and wellbeing at Unilever, said: “SmartyPants Vitamins complements Unilever’s portfolio of brands (Horlicks, Olly, Equilibra and Liquid I.V) in the functional nutrition and supplement segment.
“We are excited to work with co-founders Courtney and Gordon and their team to grow their innovative and data-driven business model.”
Courtney Nichols Gould and Gordon Gould, co-founders and co-CEOs of SmartyPants Vitamins, added: “From the start, SmartyPants Vitamins has been about family, authenticity and a core commitment to our collective wellbeing. We are excited to work with Unilever to grow the SmartyPants brand.”
The financial terms of the deal have not been disclosed. The transaction is subject to regulatory approvals and customary closing conditions.
In 2018, Unilever reached an agreement to acquire GlaxoSmithKline’s Health Food Drinks portfolio in India, Bangladesh and 20 other predominantly Asian markets, which includes brands such as Horlicks and Boost.
© FoodBev Media Ltd 2020