Unilever nearing £230m deal to buy refillable cosmetics maker Wild - report

Consumer goods giant Unilever is reportedly closing in on a £230m deal to snap up Wild, a premium producer of refillable personal care products backed by the founders of Innocent Drinks.

According to Sky News, Unilever has agreed the terms of a transaction to buy Wild from its founders and early-stage investors. Industry sources said a deal could be announced within weeks.

If confirmed, it would be one of Unilever's most significant acquisitions in the personal care space for some years, and comes as chief executive Hein Schumacher accelerates efforts to revamp its portfolio, Sky said.

It was understood that Unilever has been drawn to the Wild business because of both its premium brand positioning and its commitment to sustainability.

Wild - which was founded by Charlie Bowes-Lyon and Freddy Ward - sells refillable natural deodorants, lip balms, body washes and hand washes direct to consumers.

The sale price of up to £230m is understood to include a sizeable earnout for the founders, Sky said.