Unilever has reached a deal to acquire Living Proof, a hair care product manufacturer, for an undisclosed fee. It is mostly known for its biomedical research into hair problems.
Living Proof was founded by entrepreneur Jon Flint, who - together with MIT professor Robert Langer - compiled a team of scientists to look for solutions for a range of hair problems, alongside better hair care.
Living Proof will become part of Unilever's Prestige branch, including brands like Dermalogica, Kate Somerville, Murad and REN. The deal should be finalized by the end of 2017's first quarter, pending regulatory approval. "We are delighted to be adding Living Proof to our portfolio of Prestige brands. Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand", President of Personal Care at Unilever, Alan Jope, said.