Yesterday, according to Sky News, it has reported that Unilever is set to acquire Wild, a fast-growing refillable cosmetics brand, for a deal valued at up to £230m. The transaction, which could be announced in the coming weeks, marks one of the company’s largest acquisitions in the personal care sector in recent years.
The move comes as Unilever’s CEO, Hein Schumacher, accelerates the group’s efforts to refresh its brand portfolio, which already includes well-known names like Dove and Lynx (Axe in most markets).
Wild, founded by Charlie Bowes-Lyon and Freddy Ward just six years ago, has attracted Unilever’s interest due to its premium brand positioning and strong commitment to sustainability. The brand, which sells refillable natural deodorants, lip balms, body washes, and handwashes directly to consumers, aligns well with the growing consumer demand for eco-friendly and refillable personal care products.
Despite early challenges in product development, including a failed deodorant formula, the founders were able to refine their offerings and capitalize on the remote shopping boom brought on by the COVID-19 pandemic. Since then, Wild has grown rapidly, achieving a 77% increase in sales for the year ending December 31, 2023, with a reported £47m in revenue. The company also recorded a modest operating profit of £560,000, marking its first year of profitable growth.
The deal is expected to include a sizeable earnout for the founders, reflecting the value they have created in a short time. Wild’s success is underscored by its external funding from investors such as Jamjar Ventures, Redbus Ventures, and Slingshot Ventures, raising around £10m.
