Unilever has bought hair care brand Living Proof, a deal that has seen part-owner and brand ambassador Jennifer Aniston part ways with the company.
Unilever has purchased a 100% stake in the brand, which will be added to its portfolio of Prestige brands where it will sit against brands such as Dermalogica, Kate Somerville, Murad and REN.
The FMCG giant confirmed that Jennifer Aniston will no longer be affiliated, according to Women's Wear Daily. Aniston bought a stake in Living Proof in 2012 and has since acted as a frequent spokesmodel
Alan Jope, president Personal Care, said: “We are delighted to be adding Living Proof to our portfolio of Prestige brands. The Prestige Hair retail market is very attractive and offers significant potential for growth. Through compelling product result demonstrations and influencer driven marketing, Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand.”
Terms of the deal were not disclosed.
Living Proof was created by venture capitalist and entrepreneur, Jon Flint, to bring advanced bio-medical technology to the beauty industry.