Who Owns SheaMoisture?

SheaMoisture is a global personal care and beauty company based in New York, NY. The company was founded in 1991 by Richelieu Dennis and Sofi Tucker. The brand specializes in shampoo, conditioner, and body wash.

In Jan 2024, SheaMoisture unveiled its first antiperspirant underarm and whole-body deodorant collection for melanin-rich skin. The brand celebrated its entry into the deodorant category by sponsoring the first HBCU gymnastics team to compete at the NCAA level, Fisk University Gymnastics Team [1]

SheaMoisture serves the Black community through strategic investment and community giveback. The brand recognizes that entrepreneurship can address racial inequality and enable economic independence.

In Jun 2023, SheaMoisture partnered with Roku and MACRO to debut “The Next Black Millionaires.” This docuseries captures the journey of Dorian Morris, LaToya Stirrup, and Neil Hudson growing their passions into million-dollar businesses. The SheaMoisture Next Black Millionaires program helps Black entrepreneurs thrive. [2]

SheaMoisture is a purpose-driven company making an impact in the Black community. The brand reinvests 1% of sales into Black creators and over 300 businesses on the SheaList.

In Dec 2023, SheaMoisture launched a holiday giveback campaign with its go-to hair care gifts. The company partnered with its influencers and ambassadors to host a holiday mailer giveaway for 5 lucky winners. [3]

SheaMoisture has been developing beauty and personal care products for women of color for over thirty years. The company understands that skin with melanin requires different care and ingredients than other skin types.

In 2023, the brand’s research revealed that 80% of Black and Hispanic consumers feel like they’re using beauty and personal care products made for other people. This finding pushed SheaMoisture to expand into the deodorant category.

The company created its new deodorant line using proprietary technology to develop products that offer more than functional benefits. But who owns SheaMoisture? [4]

Table of Contents

Who is SheaMoisture’s Parent Company?

SheaMoisture is a Unilever PLC subsidiary. Unilever PLC is a multinational company for consumer goods ounded in Sep 1929 and based in London, UK. The parent organization employs 128,000 people worldwide. In Mar 2024, Unilever PLC announced plans to cut 7,500 jobs across its brands and offices globally. [5]

Unilever is one of the world’s biggest companies for consumer goods. The parent organization owns over 400 brands, including SheaMoisture, Marmite, Hellmann’s, Dove, Domestos, and Lynx.

Its portfolio spans the consumer goods spectrum, from shampoos and conditioners to mayonnaise, deodorants, and bleaches. In Mar 2024, Unilever announced plans to spin off its ice cream unit.

The demerger will leave Unilever with four divisions – personal care, beauty and wellbeing, home care, and nutrition. SheaMoisture will remain under Unilever, while ice-cream brands like Magnum and Ben & Jerry’s migrate with the spun-off unit. [6]

SheaMoisture is an ethically-conscious Unilever beauty and personal care provider. It gets its name from Shea butter, one of the brand’s core ingredients known for its hydrating and nourishing properties.

The company partners with influencers and celebrities to communicate its products’ benefits to consumers. In Jan 2024, SheaMoisture partnered with songwriter, singer, and actress Coco Jones to launch six antiperspirants and two whole-body deodorant options for melanin-rich skin. [7]

Image Credit: Tora Chu

Shea Moisture Ownership History

SheaMoisture’s history starts with Sofi Tucker, a mother of four and entrepreneur. Tucker sold homemade beauty preparations, Shea Butter, and African Black Soap in Sierra Leone in 1912.

The brand honors Tucker’s vision by formulating with Shea Butter handcrafted by women in Africa. In 1991, SheaMoisture was founded by Richelieu Dennis, founder and CEO of Sundial Brands. Sofi Tucker was Richelieu’s grandmother, whose idea was formalized as the SheaMoisture brand. [8]

Sundial owned SheaMoisture, Nubian Heritage, Madam CJ Walker, and Nyakio. The parent company instilled its purpose-driven business model into its brands. In Nov 2017, Unilever agreed to acquire Sundial.

The deal closed in Oct 2020 and transferred SheaMoisture, Nubian Heritage, and Madam CJ Walker to Unilever’s beauty and personal care division. Before its acquisition, Sundial was a leading hair and skincare product manufacturer for Black women, with a $240 million annual turnover. [9]

SheaMoisture expanded its market reach and product line under Unilever, its new owner and parent company. Richelieu’s acquisition deal with Unilever included the creation of the New Voices Fund which invests in entrepreneurs of color.

In 2021, SheaMoisture launched the Next Black Millionaire program with the New Voices Fund.

SheaMoisture has provided over 50,000 hours of education to Black entrepreneurs, $100,000 for developmental support, and over $900,000 for entrepreneurial education opportunities. By 2050, SheaMoisture plans to add $10 million worth of community investment.

The brand’s Shea butter supply chain has over 53,000 West African women in cooperatives, who receive fair wages to build their communities. [10]

Image Credit: Birgith Roosipuu

SheaMoisture Shareholder Structure

SheaMoisture is a wholly owned Unilever subsidiary. Its parent organization is a public company listed on the London Stock Exchange and NASDAQ. As of Dec 2023, Unilever PLC had 2,518,832,055 Stock A shares with one vote.

This figure includes 2,499,488,678 free-float shares and 16,181,572 company-owned shares. The parent company held 2,855,817 ordinary shares for companies in the Unilever Group as of Mar 2024. [11]

Companies repurchase their shares to boost stock value or balance their portfolios. In Feb 2024, Unilever launched a 1.5 billion euro ($1.6 billion) share buyback. The move was announced after the company’s sales volumes rocketed for the first time in 10 quarters.

CEO Hein Schumacher seeks to transform Unilever into a consistently higher-performing business. [12]

Unilever trades on several stock exchanges, including NASDAQ and LSE. Each share group has a unique shareholder structure. As of Dec 2023, Unilever (NASDAQ: UL) had 1,221 institutional investors.

They own 10.28% of the float and shares. Wellington Management Group is Unilever’s largest institutional shareholder on NASDAQ with 1.38%. This stake represents 34,494,131 shares. Blackrock Inc. is second with 0.69%, followed by Fisher Asset Management at 0.43%, FMR LLC at 0.38%, Bank of America at 0.34%, and Morgan Stanley at 0.33%.

Other top players are State Farm Mutual, Hotchkis & Wiley Capital, Wells Fargo, and Goldman Sachs Group. [13]

Individual investors from the general public own the majority stake in Unilever. The parent company trades under the ULVR.L ticker on the London Stock Exchange (LSE). As of Mar 2024, Unilever (LSE: ULVR.L) had 918 institutional investors.

Aristotle Capital Management owns 857,153 shares or a 0.03% stake, followed by Boston Common Asset at 666,022, and Appleton Partners at 8,482. [14]

References & more information