Honest Company is thinking about selling itself to a consumer product giant like Proctor & Gamble or Unilever
Mario Anzuoni / Reuters
The consumer products company, which specializes in baby, personal care, and cleaning products that contain non-toxic ingredients, has been in talks to sell, according to a report from Recode's Jason Del Rey. People close to the situation told Recode the potential buyers could be consumer goods giants Unilever or Proctor & Gamble.
Honest Company has come under fire in the past for its products. In July 2015, parents claimed the company's sunscreen didn't work - its SPF 30 sunscreen currently only has two stars on Amazon - and in March of this year, the company was accused of allegedly using a product in its detergents it had promised to avoid.
Nevertheless, the Honest Company is valued around $1.7 billion and has raised $222 million to date. According to Recode, the company's 2015 revenue was around $300 million. It was reported earlier in 2016 that Honest Company planned to go public, but those plans were apparently put on hold.
If Unilever does buy Honest Company, it would be the second such purchase this summer. In July, Unilever bought Dollar Shave Club for $1 billion.
Honest Company did not immediately respond to a request for comment.
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