BrandIconImage learnt that, Unilever has finalized the terms for the acquisition of Wild from its founders and early investors.
An announcement regarding the deal could be made in the coming weeks, as per industry insiders.
If the acquisition is confirmed, it would mark one of Unilever's most notable purchases in the personal care sector in recent years, coinciding with CEO Hein Schumacher's initiative to revitalize the company's portfolio.
Unilever's personal care lineup includes well-known brands such as Dove and Lynx, which is marketed as Axe in many international markets.
The appeal of Wild to Unilever is attributed to its strong brand identity and dedication to sustainability.
Founded by Charlie Bowes-Lyon and Freddy Ward, Wild offers a range of refillable natural deodorants, lip balms, body washes, and hand washes directly to consumers.
The proposed sale price of up to £230 million reportedly includes a significant earnout for the founders, and even without this component, the deal signifies a remarkable achievement for a company established only six years ago.
In 2023, Mr. Ward shared with The Grocer, a trade publication, that Wild's early attempts to create a viable product faced challenges.
In a 2023 interview with The Grocer, Mr. Ward stated that Wild's initial attempts to develop a marketable deodorant were unsuccessful due to suboptimal product formulation. He acknowledged the presence of consumer demand but noted that the initial product failed to meet quality standards.
A product overhaul that happened right when online shopping surged due to the COVID-19 pandemic has really paid off for the founders.
Since then, they've managed to pull in about £10 million from outside investors, including Jamjar Ventures, which is backed by the founders of Innocent Drinks, along with Redbus Ventures and Slingshot Ventures.
Their financials for the year ending December 31, 2023, show sales nearly hit £47 million, marking a 77% jump from the previous year.
They also reported an operating profit of £560,000.
According to the accounts, which were finalized last July, "2023 was a pivotal year for Wild as we achieved our first year of profitable growth across the board."
Meanwhile, a potential sale to Unilever is on the table as the London-listed company considers spinning off its extensive ice cream division, which features the Ben & Jerry's brand.
There's talk of a demerger that could involve the London Stock Exchange, but they're also looking at options in Amsterdam and New York.
On Monday afternoon, Unilever's shares were trading around £47.26, giving the company a market cap close to £116 billion.
Unilever chose not to comment, and Wild Cosmetics was unavailable for immediate feedback.