Shares of Unilever N.V. (ADR) (NYSE:UN) ended Friday session in red amid volatile trading. The shares closed down -0.32 points or -0.69% at $46.10 with 1.63 million shares getting traded. Post opening the session at $46.19, the shares hit an intraday low of $46.03 and an intraday high of $46.31 and the price vacillated in this range throughout the day. The company has a market cap of $141.90 billion and the numbers of outstanding shares have been calculated to be 1.28 billion shares.
On September 19, 2016 Unilever announced that it has signed an agreement to acquire Seventh Generation, Inc., the North American home and personal care products company.
Based in Vermont, Seventh Generation is a pioneer in corporate responsibility and sustainable product innovations, including plant-based detergents and household cleaners. The company’s turnover exceeded US $200m in 2015 and it has seen double digit compounded annual growth over the last 10 years.
Seventh Generation has a comprehensive product portfolio and a distribution network covering the ‘natural’ category in grocery, mass merchandise and e-commerce channels.
Nitin Paranjpe, President of Unilever’s Home Care business said: “Seventh Generation has long been a disruptor in the US marketplace, leading the industry in sustainable innovation while attracting new generations of conscious consumers. This addition to Unilever’s product portfolio will help us meet rising demand for high-quality products with a purpose.”
Kees Kruythoff, President of Unilever North America, added: “We’re thrilled to add Seventh Generation to our brand portfolio, providing us with the opportunity to accelerate growth with our retail partners and connect in new ways with consumers. Adding Seventh Generation to Unilever’s portfolio of purpose-driven brands like Ben & Jerry’s and Dove demonstrates our continued commitment to the Unilever Sustainable Living Plan.”
Seventh Generation CEO John Replogle said: “For 28 years, Seventh Generation has been creating products that are not only effective but also designed with environmental and human health in mind while demonstrating that business can have a greater purpose, serving not just profit but people and the planet as well. Now marks the next chapter and we’re proud to join Unilever and its shared vision for purpose-led business on a global scale. Working together we are confident we can have a positive impact on the health of billions of people around the world, truly fulfilling our mission of nurturing the next seven generations while transforming global commerce.”
Shares of Hanesbrands Inc. (NYSE:HBI) ended Friday session in red amid volatile trading. The shares closed down -0.34 points or -1.30% at $25.81 with 1.58 million shares getting traded. Post opening the session at $26.02, the shares hit an intraday low of $25.80 and an intraday high of $26.20 and the price vacillated in this range throughout the day. The company has a market cap of $9.75 billion and the numbers of outstanding shares have been calculated to be 377.80 million shares.
Hanesbrands Inc. (HBI) on September 2, 2016 announced the company is donating more than 23,000 items of clothing to residents affected by devastating flooding in Louisiana.
HanesBrands is partnering with Fashion Delivers, a New York based charity, to distribute three trailer loads of first-quality product, including T-shirts, socks, bras, underwear and other apparel, to flood victims.
“We have all seen the devastation the Louisiana floods have caused on so many levels – especially to the lives of the thousands of people directly affected, “HanesBrands is happy to provide this assistance and hope that it can provide some real help in this time of need,” said Chris Fox, HanesBrands vice president for corporate social responsibility.