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By Stephen Nakrosis
Unilever NV (UN) said Monday it was acquiring Tatcha, a "leading prestige skincare brand," in a deal expected to close in the third quarter of this year.
Financial terms of the deal weren't disclosed.
The Tatcha brand was founded in 2009 by Victoria Tsia, and sells a variety of beauty products inspired by Japanese skincare practices, including skincare treatments, lipsticks and moisturizers.
According to Unilever, Tatcha's products are formulated using green tea, rice and a type of algae. The company said these three ingredients are "anti-aging superfoods."
Vasiliki Petrou, Unilever EVP and chief executive Prestige, said "We are delighted to have Tatcha joining our portfolio of Prestige brands. Inspired by Japanese pure beauty rituals, Tatcha is one of the best performing beauty brands in North America, famous for its exceptional product experience and unique combination of natural ingredients and high product efficacy."
Unilever also said Tatcha "is distributed through prestige retailers predominantly in the U.S. and has an outstanding social media and digital presence."
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(END) Dow Jones Newswires
June 10, 2019 14:08 ET (18:08 GMT)
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