Anglo-Dutch fast-moving consumer group Unilever announced that it has signed an agreement to acquire Liquid I.V., a U.S-based health-science nutrition and wellness company.
Based in El Segundo, California, Liquid I.V. is known for its electrolyte drink that utilises Cellular Transport Technology (CTT), which enhances the rapid absorption of water and other key nutrients into the bloodstream.
Designed to approach wellness holistically, Liquid I.V. products include Hydration, Energy and Sleep. All products are also non-GMO, vegan, gluten free, soy free and dairy free and one serving of Liquid I.V. is said to provide up to 2–3 times the hydration of water alone.
“Liquid I.V. is an impressive and innovative brand in the fast-growing health, wellness and personal nutrition space,” said Fabian Garcia, President of Unilever North America.
“Liquid I.V. shares Unilever’s purpose to improve people’s health and wellbeing, as well as our ambition to create sustainable products that have a positive social impact. We are delighted to welcome Liquid I.V. to Unilever’s portfolio of purpose-driven brands,” continued Fabian.
Founded in 2012 by entrepreneur Brandin Cohen, Liquid I.V. will continue to be based in El Segundo, and led by Cohen, who will remain as Chief Executive Officer and Founder.
“We are excited to work together with Unilever to scale the brand and amplify Liquid I.V.’s mission to help people everywhere live better lives – to optimise the body, hydrate those in need, and better the planet,” said Cohen.
Terms of the deal were not disclosed. The acquisition is subject to regulatory approvals and customary closing conditions.
In its most recent trading update, Unilever said its first-half revenues fell 1.6% to €25.7 billion, including a positive impact of 1.1% from acquisitions and a negative impact of 2.5% from currency exchange effects.
SEE ALSO : Fosun acquires fashion label Tom Tailor
The company’s underlying operating profit excluding currency increased 3.8% to US$6 billion.