Unilever nearing £230 million deal for Wild

Unilever is reportedly closing in on a £230 million deal to acquire plastic-free personal care brand Wild.

The company has agreed the terms of a transaction to acquire Wild from its founders and early-stage investors, according to Sky News.

Industry sources said a deal could be announced within weeks. If confirmed, it would reflect one of Unilever's most significant acquisitions in the personal care category in recent years.

Founded in 2019 by childhood friends Freddy Ward and Charlie Bowes-Lyon, Wild tackles the throwaway culture of bathroom products by creating high-performing products made from natural ingredients that never compromise on convenience or efficacy.

Starting out with a refillable deodorant, the brand has since launched a body wash featuring the "world's first" 100% plastic-free, compostable bottle, as well as soaps, shampoo bars and a lip balm.

It closed a £5 million investment led by Innocent Drink's JamJar Investments in 2022.

Unilever is said to have been drawn to Wild because of both its premium brand positioning and commitment to sustainability.

The news comes as CEO Hein Schumacher continues to drive forward Unilever's growth strategy, which focuses on doing fewer things, better and with greater impact.

As part of a trading update last year, the company said it was starting to see the positive impact from scaling fewer, bigger innovations across its markets supported by increased brand investment.