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| Wild co-founders ‘land £100m’ from sale of natural deodorant maker | Wild co-founders ‘land £100m’ from sale of natural deodorant maker |
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| Childhood friends sell upmarket brand to Unilever, the maker of Marmite, Dove soap and Lynx deodorant | Childhood friends sell upmarket brand to Unilever, the maker of Marmite, Dove soap and Lynx deodorant |
| A pair of UK entrepreneurs selling refillable deodorants and manuka honey lip balms made from natural ingredients have landed a near-£100m payday from the sale of their brand to Unilever, the global consumer goods group. | A pair of UK entrepreneurs selling refillable deodorants and manuka honey lip balms made from natural ingredients have landed a near-£100m payday from the sale of their brand to Unilever, the global consumer goods group. |
| Wild Cosmetics, founded six years ago by two childhood friends, Freddy Ward and Charlie Bowes-Lyon, has been bought by Unilever, the maker of a host of brands including Marmite, Dove soap, and Axe, Lynx and Sure deodorant. | Wild Cosmetics, founded six years ago by two childhood friends, Freddy Ward and Charlie Bowes-Lyon, has been bought by Unilever, the maker of a host of brands including Marmite, Dove soap, and Axe, Lynx and Sure deodorant. |
| After first approaching the pair six months ago, Unilever has acquired their upmarket brand – which specialises in “refillable, natural, body care” – as it seeks to shift its portfolio towards premium and high-growth brands. | After first approaching the pair six months ago, Unilever has acquired their upmarket brand – which specialises in “refillable, natural, body care” – as it seeks to shift its portfolio towards premium and high-growth brands. |
| Wild makes premium deodorant case-and-refill packs starting from £12, lip balm packs from £7.20, body wash packs from £10 and hand wash packs priced from £15.40, using plant-based ingredients, with refillable, plastic-free packaging. | |
| The Brixton-based startup, which employs 100 people, changed hands for an undisclosed sum but is thought to be valued at £230m. | The Brixton-based startup, which employs 100 people, changed hands for an undisclosed sum but is thought to be valued at £230m. |
| Ward and Bowes-Lyon, who is a first cousin three times removed of the late Queen Mother, launched Wild because they wanted to tackle the issue of single-use plastics and spotted a gap in the market for sustainable bathroom products. | Ward and Bowes-Lyon, who is a first cousin three times removed of the late Queen Mother, launched Wild because they wanted to tackle the issue of single-use plastics and spotted a gap in the market for sustainable bathroom products. |
| The deal will make the pair – who are in their 30s – millionaires, as they are thought to own nearly 26% and 17% of the company respectively. They will stay on to run the business, with the same team and from the same location in south London. | The deal will make the pair – who are in their 30s – millionaires, as they are thought to own nearly 26% and 17% of the company respectively. They will stay on to run the business, with the same team and from the same location in south London. |
| Bowes-Lyon, the chief marketing officer, said joining Unilever marked an “exciting new chapter for Wild”. He told the Guardian that having access to the consumer group’s distribution networks and research and development would help Wild in its “ultimate mission to remove plastic from the average Joe’s bathroom” and to “make sustainability mainstream”. | |
| This could mean lower prices for consumers. “With scale, essentially prices come down,” he said. | This could mean lower prices for consumers. “With scale, essentially prices come down,” he said. |
| Bowes-Lyon was not concerned about the brand losing its independence. “The brand will stay pretty much as it is. And Unilever see themselves as a kind of support role for us, to help us grow up.” | Bowes-Lyon was not concerned about the brand losing its independence. “The brand will stay pretty much as it is. And Unilever see themselves as a kind of support role for us, to help us grow up.” |
| He said Wild, run by Ward, the chief executive, had “very extensive” discussions with Unilever over the past six months and was “very comfortable with the arrangements”. During a two-year earn-out period, the business will have to meet certain sales targets. Bowes-Lyon believes that Unilever is serious about sustainability, noting that it had trialled more than 3,000 types of non-plastic packaging. | He said Wild, run by Ward, the chief executive, had “very extensive” discussions with Unilever over the past six months and was “very comfortable with the arrangements”. During a two-year earn-out period, the business will have to meet certain sales targets. Bowes-Lyon believes that Unilever is serious about sustainability, noting that it had trialled more than 3,000 types of non-plastic packaging. |
| Wild is preparing to launch a new product this summer in the deodorant sector. | Wild is preparing to launch a new product this summer in the deodorant sector. |
| Its sales jumped by 77% to £46.9m in 2023, resulting in its first pre-tax profit, of £509,000, after facing significant cost pressures the year before, according to its most recent accounts filed at Companies House. | Its sales jumped by 77% to £46.9m in 2023, resulting in its first pre-tax profit, of £509,000, after facing significant cost pressures the year before, according to its most recent accounts filed at Companies House. |
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| Fabian Garcia, the president of Unilever’s personal care arm, said: “The brand’s innovative approach to formulations and packaging, and social-first marketing, has made Wild an unmissably superior brand and a perfect complement to our personal care portfolio.” | Fabian Garcia, the president of Unilever’s personal care arm, said: “The brand’s innovative approach to formulations and packaging, and social-first marketing, has made Wild an unmissably superior brand and a perfect complement to our personal care portfolio.” |
| Wild is backed by investors including the founders of Innocent Drinks via their investment vehicle JamJar Investments, along with Redbus Ventures, also based in London, and Amsterdam-based Slingshot Ventures. | Wild is backed by investors including the founders of Innocent Drinks via their investment vehicle JamJar Investments, along with Redbus Ventures, also based in London, and Amsterdam-based Slingshot Ventures. |
| Unilever has snapped up a number of premium consumer brands in recent years, including the biotech haircare specialist K18 and the UK snack brand Graze. | Unilever has snapped up a number of premium consumer brands in recent years, including the biotech haircare specialist K18 and the UK snack brand Graze. |
| The consumer group is acquiring Wild while it is in the midst of a shake-up, which involves 7,500 job losses, as it trims its food portfolio to focus on its biggest sellers. | The consumer group is acquiring Wild while it is in the midst of a shake-up, which involves 7,500 job losses, as it trims its food portfolio to focus on its biggest sellers. |
| It is spinning off its Ben & Jerry’s and Wall’s ice-cream division, and announcing plans for a main stock market listing in Amsterdam in a blow to the London stock market. It will have secondary listings in London and New York. | It is spinning off its Ben & Jerry’s and Wall’s ice-cream division, and announcing plans for a main stock market listing in Amsterdam in a blow to the London stock market. It will have secondary listings in London and New York. |
| Unilever’s chief financial officer, Fernando Fernandez, was promoted to chief executive last month, replacing Hein Schumacher, who was ousted after less than two years at the helm. Fernandez previously ran Unilever’s beauty and wellbeing division, one of its fastest-growing businesses. | Unilever’s chief financial officer, Fernando Fernandez, was promoted to chief executive last month, replacing Hein Schumacher, who was ousted after less than two years at the helm. Fernandez previously ran Unilever’s beauty and wellbeing division, one of its fastest-growing businesses. |