Unilever (NYSE: UN) announced on Monday that it has acquired The Laundress, an eco-friendly line of detergent, fabric care, and home cleaning products. The Laundress, founded in 2004, will continue to operate from its New York City headquarters. The Company’s co-founders, Lindsey Boyd and Gwen Whiting, will lead the business and their NYC Soho Flagship store.
“We are thrilled to join the Unilever family. Together we have a unique opportunity to magnify and accelerate our mission of bringing our eco-friendly, fabric care products to every laundry room in the world,” said Lindsey Boyd.
Terms of the transaction have not been disclosed.
The Laundress’ products, which are made in the U.S., are produced with ingredients that are plant-derived, and free of allergens, sodium lauryl sulfate, petroleum, phthalates, phosphate, parabens, and chlorine bleach. The eco-conscious brand provides highly concentrated products which require fewer ounces per load, therefore less packaging, energy and water is used per wash.
Unilever’s acquisition of the eco-friendly company compliments its goals of achieving sustainable growth. By the year 2030, Unilever aims to reduce its environmental footprint by 50%. “Part of our Vision is to grow our business whilst decoupling our environmental impact from our growth. We consider the reduction of our greenhouse gas (GHG), water and waste impacts across our value chain, from sourcing our raw materials to within our own manufacturing and operations and consumer use. We also aim to source our agricultural raw materials sustainably,” the Company said.
Unilever will release its full-year 2018 financial results on January 31st.